Wednesday, July 25, 2007

China posts 11.9 percent growth rate

...The latest quarterly figure showed the fastest expansion since the last quarter of 1995, when the economy grew by 12.5 percent.

...Another concern arose Thursday when the government announced that inflation had reached its highest level in years, with the Chinese consumer price index jumping at a 4.4 percent rate in June, almost entirely because of rising food prices.

The prices of eggs and pork have risen more than 20 percent in the past year largely because of tighter grain supplies and the outbreak of blue-ear pig disease, the government said.

From the IHT