China inflation hits 11-year high
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Chinese consumer inflation reached 7.1% in January, the highest rate for 11 years, official figures show.
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China's central bank on Thursday raised interest rates for the first time in nearly a decade, signaling deepening unease with the breakneck pace of development and an intent to reign in a construction boom now sowing fears of runaway inflation.
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Sterling has surged to a 23-month high of 1.9336 against the dollar as sentiment in the US currency was dented by comments the from the deputy governor of the Chinese central bank.
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China said yesterday that its economy grew at an 11.9 percent annual rate in the second quarter of this year, the fastest pace in more than a decade, reigniting fears the economy is overheating.
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China grew 11.4 percent in 2007, the  fastest pace in 13 years, but is headed for a modest slowdown  this year as global demand weakens and credit curbs to cap  inflation ripple through the economy.
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BEIJING -- Chinese inflation rose to its highest level in more than two years in May, driven by soaring prices for pork and other food, according to government figures released Tuesday.
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China on Sunday took aim at price manipulators and hoarders of goods, as Beijing ramped up its campaign to rein in inflation which is running at its highest level in more than a decade.
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Inflation tops 7,600 percent as the country's economic crisis forces people to flee the country or scrounge for food.
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China raised interest rates on Thursday for the sixth time this year, the latest of a series of tightening steps to cap inflation and prevent the world's fourth-largest economy from overheating.
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As much of the world grapples with a slowdown, Australia raises interest rates to an 11-year high.
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Chinese inflation hits its second 10-year high in two months, led again by a sharp rise in meat prices.
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China&#39;s economy expanded at a roaring 11.9 percent in the second quarter, official data showed Thursday, prompting warnings that the government will clamp down hard to stop serious overheating.
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China's central bank yesterday raised interest rates for the first time in nearly a decade, signaling deepening unease with the breakneck pace of development and an intent to reign in a construction boom now sowing fears of runaway inflation.
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Surging oil prices could moderate China's economy this year as rising costs push inflation higher, hitting corporate profits and consumer pocket books, analysts and state press said.
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Consumer prices rose 7.1 percent, the largest increase in more than a decade.
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China's economy grew a blistering 11.4 percent in 2007, reaching the highest level in 13 years and marking the fifth straight year of double-digit growth, the government said Thursday.
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China's central bank raised interest rates Thursday for the first time in nearly a decade, signaling a deep unease with the breakneck pace of development and an intent to curb fears of runaway inflation.