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China inflation edges lower to 5.3%

China inflation edges lower to 5.3%

11 May 2011 09:28 (UTC +04:00)

Baku - APA-Economics. China’s red-hot economy has cooled slightly, after the government stepped up efforts to fight inflation.

Consumer prices eased to 5.3% in April from a year earlier, down from a three-year high of 5.4% in March.

Other figures, including industrial production, also suggested a slowing trend. Premier Wen Jiabao has said cooling growth is a top priority.

The government has identified rising prices, especially in food, fuel and housing, as a serious social and political problem. Food price rises which are the main factor behind overall inflation remain stubbornly strong at 11.2%, but have fallen back from last month’s high of 11.7%.

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