China's Consumer Price Index Grows 3.5%
China’s consumer price index in August jumped its largest rate increase in almost two years. China gained 3.5% from a year earlier and 0.2% from July, likely from China’s worst flooding in years and inflation. China’s National Bureau of Statistics reported two days ahead of schedule.
Fixed-asset investment in China’s cities surged 24.8% so far this year, down slightly from the 24.9% increase in July. Textiles jumped 11.6%, raw chemicals gained 12.9% and general machinery rose 20.1%. Retail sales of consumer goods added 18.4%, up 0.5% from the prior month.Industrial growth in August increased to 13.9%, up from 13.4% in July.
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