The Chinese economy found its feet in August, with inflation remaining subdued as exports rose more than expected, giving a rosier outlook for the second half of the year.
Consumer prices rose 2.6 per cent from a year earlier, just a touch below July’s 2.7 per cent pace, the statistics bureau said on Monday. Inflation is unlikely to pass the 3 per cent threshold in 2013, leaving it well within the government’s comfort zone and beneath its official “upper limit” of 3.5 per cent.
The data follow trade figures released on Sunday that showed a 7.2 per cent jump in exports and a 7 per cent rise in imports for August, beating expectations and pointing to firmer third-quarter growth than had previously been expected.