LOS ANGELES TIMES: Inflation in China grew at its slowest pace in nearly two-and-a-half years in June, likely paving the way for more monetary loosening as the world’s second largest economy tries to avert a sharp slowdown in growth.
Consumer prices edged-up 2.2% from a year ago, slower than May’s year-on-year increase of 3.0%,China’sNational Bureau of Statistics said Monday.
The falling prices should give China confidence to increase bank lending and stimulate an economy facing its weakest growth in three years. China’s central bank lowered benchmark interest rates last week for the second time in less than a month. … (more)
