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China's Inflation Rate Holds Steady In July
BBC NEWS, BUSINESS
August 9, 2013: Consumer prices in China held steady in July, which along with other data suggested the country's economic slump could be stabilizing. Consumer price inflation rose 2.7% from a year earlier, well below the 3.5% target set by Beijing. The producer price index (PPI) fell 2.3% in July from a year earlier compared with a drop of 2.7% in June.
China's economy is experiencing its worst slowdown since the global financial crisis in 2008.
The data adds to evidence that the slowdown could be stabilizing, after data showed that export and import growth rebounded in July.
However, some analysts said it was premature to say whether the economy was rebounding.
"The easing PPI drop also implies signs of stabilizing of the industrial sector. But it's still too early to say that China's economy is on the track of rebounding as it takes time to resolve economic structural problems," said Xu Dongshi from Galaxy securities in Beijing.
