Thursday July 24, 2014


QUESTION OF THE WEEK

  • Will the number of forest fires keep you from travelling far this summer?
  • Yes
  • 19%
  • No
  • 81%
  • Total Votes: 74



Home »  News »  Business

China's inflation eases in October, giving room for more stimulus


A delegate in ethnic minority costume holds a leather document folder marked with the emblem of the Communist Party of China and Chinese letters that read: "Chinese Communist Party 18th National Congress" after attending the opening session of the 18th Communist Party Congress in Beijing, China, Thursday, Nov. 8, 2012. THE CANADIAN PRESS/AP, Vincent Yu

BEIJING, China - China's inflation eased further in October as increases in food prices slowed, giving Beijing room to launch new stimulus measures if needed to speed a recovery from a painful economic slump.

Consumer prices rose 1.7 per cent, down from the previous month's 1.9 per cent, the government reported Friday. Food prices rose 1.8 per cent, down from September's 2.5 per cent.

Lower inflation gives Beijing more room to cut interest rates or promote new stimulus measures to speed an economic recovery that appears to be taking shape. Forecasters say growth that has declined steadily over the past year should rebound this quarter or early in 2013 but any recovery is likely to be gradual and weak.

Chinese economic growth fell to a three and a half year low of 7.4 per cent in the quarter ending in September but investment, retail sales and other indicators improved from the previous quarter. The government said last month it saw "steady economic growth," suggesting there was no need for further major stimulus.

Beijing launched a mini-stimulus, cutting interest rates twice in June and July and stepping up investment by state companies and spending on building airports and other public works. But authorities avoided bigger measures after their huge spending in response to the 2008 global crisis fueled inflation and a wasteful building boom.

Communist leaders spent two years trying to crush inflation and prevent economic overheating but shifted emphasis late last year to shoring up slowing growth after global demand for Chinese exports plunged.

___

Online:

National Bureau of Statistics (in Chinese): www.stats.gov.cn


Comments


NOTE: To post a comment in the new commenting system you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Yahoo, OpenID. You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Alaska Highway News welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

blog comments powered by Disqus


About Us | Advertise | Contact Us | Sitemap / RSS   Glacier Community Media: www.glaciermedia.ca    © Copyright 2014 Glacier Community Media | User Agreement & Privacy Policy

LOG IN



Lost your password?