News Summary: China inflation rises in June

News Summary: China's inflation rises to 2.7 percent in June, still below government target

Associated Press

THE NEWS: China's inflation rose in June but was well below the government's target in a sign of weak demand amid an economic slowdown.

THE DETAILS: Consumer prices rose 2.7 percent over a year earlier, up from May's 2.1 percent gain but below the 3.5 percent official target for the year, the government said. The June figure was driven by a 4.9 percent rise in food costs.

THE REASON: Pressure for prices to rise is relatively low in China because of weak demand, excess production capacity in many industries and lower costs for raw materials and components.

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