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Chinese inflation picks up but not all see tighter policy
Consumer prices rose 3.1 percent in the year to May compared with a 2.8 percent annual rise in April, confirming a Reuters report from Wednesday and exceeding the official year-average target of 3 percent.
However, a spokesman for the National Bureau of Statistics, which released the data on Friday, said price pressures were easing and expressed confidence that Beijing should be able to hit its inflation goal.
The statistics office also reported that annual industrial output growth slowed to 16.5 percent in May from 17.8 percent in April, while year-to-date investment in urban areas in fixed assets such as flats and factories eased to 25.9 percent from 26.1 percent.
Figures released by the central bank showed the success of its efforts to normalize monetary policy after a record government-orchestrated credit spree last year to help the economy weather the global downturn.
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