International Business : Inflation in China Rises
From Reuters
BEIJING —
China announced Wednesday that urban inflation continued to defy a 15-month government cooling-off program and rose to the highest level in more than five years.
Figures from the State Statistical Bureau show that August consumer retail prices in China’s 35 major cities rose 27.1% from a year earlier, following an annual rise of 24.2% in July. The figures suggest that the government’s goal of keeping 1994 inflation below 10% won’t be realized.
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