China Inflation Rate at Three-Year High in July

China's consumer price index rose 6.5 percent in July compared to a year earlier, the highest level since June 2008 when it reached 7.1 percent.

Food prices, which are likely to hurt low earners the hardest with foodstuffs accounting for more than one-third of the monthly spending of the average Chinese consumer, were up 14.8 percent in July.

The July rate was up 0.5 percent month-on-month, while CPI in June had risen 6.4 percent from the same month of 2010. In May, it rose 5.5 percent year on year.

China's producer price index (PPI) for July, a measure of inflation at the wholesale level, was up 7.5 percent year-on-year, the NBS said, from 7.1 percent in June.

China Inflation Rate at Three-Year High in July, National Bureau of Statistics China
8/9/2011 12:03:27 PM