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China's inflation up in July

Posted on Aug 09 2014 | IANS

Beijing, Aug 9 : China's consumer price index (CPI), a main gauge of inflation, grew 2.3 percent year-on-year in July, official data showed Saturday.

The growth rate was at the same level as it was during the first half of the year showing that the world's second-largest economy has witnessed stable prices so far, Xinhua quoted the National Bureau of Statistics (NBS) as saying.

In July, inflation grew 2.4 percent in urban areas, higher than the 2.1 percent in rural areas, NBS data showed.

Food prices, which account for about one third of the weighting in CPI calculation, grew 3.6 percent year-on-year in July, down from 3.7 percent in June.

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