China CPI falls to 7.7 pct in May
WATCH VIDEOSource: CCTV.com
06-12-2008 15:12
China's National Bureau of Statistics reported Wednesday that the country's annual consumer price inflation fell to 7....
China CPI falls to 7.7 pct in May WATCH VIDEOSource: CCTV.com 06-12-2008 15:12 China's National Bureau of Statistics reported Wednesday that the country's annual consumer price inflation fell to 7.7 percent in May. That's compared to a record high of 8.5 percent in April. Food prices, which make up a third of the consumer basket, rose almost 20 percent in May from a year earlier. April recorded a 22 percent jump in food prices, a major driver for the rocketing CPI levels. Meat and poultry prices alone were up 37.8 percent. Pork prices were up 48 percent. While non-food prices rose just 1.7 percent in May from a year earlier. CPI stayed above 8 percent for 3 consecutive months starting with February. Analysts say if CPI growth stays below 8 percent for 2 consecutive months, it could suggest the country's consumer prices will be back on the right track.
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