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China inflation in August slows to 2.6 percent

Sept. 9, 2013 at 12:15 AM

BEIJING, Sept. 9 (UPI) -- China's inflation, as measured by the consumer price index, slowed to 2.6 percent in August year-on-year, from 2.7 percent in July, the government said Monday.

The CPI so far has stayed between 2 percent and 3.2 percent this year, or below the government's target of 3.5 percent for the whole year, the National Bureau of Statistics reported.

Food prices, which account for a third in the CPI calculation, rose 4.7 percent in August year-on-year, while prices of non-food products were up 1.5 percent.

Separately, the bureau said the August producer price index, which measures inflation at the wholesale level, fell 1.6 percent from the same month last year.

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