China's inflation slowed to 3.0 percent in April, the government reported
Monday, amid efforts to rein in the sizzling economy.
That rate is in line with the government's 3 percent target for inflation
this year and down from the 3.3 percent increase in prices in March, the highest
level in 25 months.
Overall consumer prices in April were lifted by driven by a 7.1 percent jump
in food prices from a year ago, the National Statistics Bureau reported on its
Chinese leaders are worried that sizzling economic growth, which is expected
to top 10 percent this year, and a boom in construction and investment could set
off a surge in inflation.
The government has raised interest rates and forced banks to buy bonds and
increased the amount of money they must set aside in reserves in an effort to
rein in overinvestment in real estate and other industries.
Authorities have avoided more drastic measures, noting that consumer
inflation has stayed relatively low.
China's central warned of possible higher inflation in a report last week,
citing grain and energy as areas for special concern.