Economy
China's January inflation eases to 1.5%
(Agencies)
Updated: 2010-02-11 10:37
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BEIJING: China's inflation rate eased in January, reducing pressure to raise interest rates to control price increases as it tries to keep an economic recovery on track.
Consumer prices in January rose 1.5 percent over a year earlier, the National Bureau of Statistics reported on Thursday. That was down from December's 1.9 percent increase, the highest rate in nearly two years.
December's jump in inflation came as the government declared China had emerged from the global crisis and prompted concern Beijing might have to tighten credit faster than expected, complicating efforts to keep the economy growing.
January inflation was driven by a 3.7 percent rise in food costs including a 17.1 percent jump in vegetable prices. But that was down slightly from December's 5 percent hike in food costs.
