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Food prices fuel Chinese inflation

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China's inflation has rebounded to its highest level in nearly three years, buoyed by stubbornly high food prices (AP)

China's inflation has rebounded to its highest level in nearly three years, buoyed by stubbornly high food prices (AP)

China's inflation has rebounded to its highest level in nearly three years, buoyed by stubbornly high food prices (AP)

China's inflation rebounded in May, buoyed by stubbornly high food prices despite signs that interest rate hikes and other controls have begun to cool the overheated economy.

Consumer prices rose 5.5% over a year earlier, driven by an 11.7% jump in food costs, data showed today.

That was up from April's 5.3% rate and exceeded March's 32-month high of 5.4%.

The figure was in line with economists' forecasts, but well above the government's 4% target for the year.

PA


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