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China Inflation Hits 22-Month Low, Slows to 2.4%
China’s once-rampant inflation has cooled to its slowest pace is 22 months, opening the door for aggressive interest rate cuts that could potentially kick-start its economy back into high gear.
China’s consumer price index for November climbed 2.4% for the year, a sharp drop from the 4.0% posted in October and the fourth consecutive month-to-month drop, its National Statistics Bureau said today (Thursday).
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Though not ideal for China’s overall economic growth, the silver lining is that falling consumer prices…
11Dec2008 | Money Morning | 0 comments | Continued
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