China Inflation Rises in August

China's consumer prices rose at the fastest pace in nearly two years in August, as severe floods and unusually hot weather destroyed crops, driving up food prices.

China's consumer price index rose 3.5% on year in August, compared with 3.3% in July, the statistics bureau said. The figure marked the 10th straight month the inflation has risen.

Food prices, a major component of the consumer price index, rose 7.5% on the year. The nation's worst flooding in more than a decade has ravaged food crops and disrupted transport links across the country, driving up the price of fruit, vegetables and meat.
9/13/2010 12:46:09 PM