Chinese shoppers paid more for meat and vegetables in May, but consumer inflation wasn’t enough to distract government officials intent on boosting sluggish economic growth.
In recent weeks, Beijing has unveiled several programs to stimulate the economy. The latest sign of moderate inflation gives policy makers more room to ease monetary policy aimed at boosting output.
“The inflationary rate is well below the government’s target so the consumer-price index won’t be a constraint on the central bank’s monetary policy,” said Lu Ting, economist at Bank of America Merrill Lynch.
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Mark Magnier, The Wall Street Journal via CHINA US Focus http://ift.tt/1s6c57d
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