Chinese inflation has rebounded to a four-month high, driven partly by a credit surge earlier this year that the government is now trying to contain.
The increase in consumer prices despite China’s weak growth underlines the dilemma faced by policy makers as they judge whether to provide more support for the flagging economy or to tighten the flow of cash and rein in earlier excesses.
Consumer prices rose 2.7 per cent year on year in June, up from 2.1 per cent in May, and the highest since February. Higher pork prices, a major component of China’s consumer price basket, were the biggest contributor to the jump. Rental costs also edged higher, a reflection of how Chinese property inflation has accelerated this year.
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