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The drop in consumer inflation in China last month looks particularly reassuring at a moment when more and more countries around the world face the challenge to fight rising inflation head-on. If China succeeds in combating inflation, it will considerably boost other central banks' confidence to address inflationary pressures.

Figures from the National Bureau of Statistics showed that the country's consumer price index (CPI) grew 7.7 percent last month over a year earlier, 0.8 percentage points lower than that in April.

Such a moderation in consumer price inflation will bring relief to the authorities who have been working hard to prevent both economic overheating and high inflation.