SHANGHAI (AP) ? China's consumer prices moderated in August, helped by slower increases in food prices, opening the way for a possible easing of tight monetary policies to help ward off the impact of a global slowdown.
Consumer prices in the world's second-largest economy rose 6.2 percent over a year earlier, cooling from a 37-month high of 6.5 percent in July, the National Statistics Bureau said Friday.
The data were in line with expectations, though still above the government's 4 percent target for the year.
They appear to indicate that repeated interest rate hikes and other curbs meant to chill the overheated economy are taking hold. That could ease the dilemma Chinese leaders face in seeking to dampen politically sensitive living costs, while keeping economic growth on track as the U.S. and European outlook worsens.
Food prices, which comprise a large share of the consumer price index, climbed 13.4 percent, down from 14.8 percent in July.
A 29.3 percent surge in prices for meat and poultry products and 12.2 percent increase for staple grains kept food price increases still relatively strong.
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Online:
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