China inflation rises to 2.3%
China’s inflation accelerated to 2.3 per cent in February, driven by a jump in food prices, but stayed below the government’s official target for the year. The consumer price rise reported today was up from January’s 1.8 per cent. Food prices surged 7.3 per cent, up from the previous month’s gain of 4.1 per cent. Inflation is forecast to edge higher this year, though analysts say it is unlikely to reach levels that would hamper plans by Chinese leaders to boost government spending to shore up slowing economic growth.