Wednesday, May 23 2012

Intermittent Clouds Dublin Hi 20 °C | Lo 8°C

World News

Food price rises fuel inflation

Chinese leaders are gradually easing controls to boost growth and job creation (AP)

Chinese leaders are gradually easing controls to boost growth and job creation (AP)

Thursday February 09 2012

China's inflation rebounded in January as food prices soared, renewing pressure on Beijing to control living costs as it tries to boost slowing growth amid warnings of a looming global downturn.

Consumer prices in the world's second-largest economy rose by an unexpectedly strong 4.5% over a year earlier, up from December's 4.1%, data showed.

Food prices jumped 10.5%, accelerating from the previous month's 9.1% rate.

"It makes us more concerned that the risk of inflation is not going away," said Nomura economist Zhiwei Zhang.

Among Chinese planners "it will reinforce concerns about inflation that already were there".

The price spike could complicate the communist government's efforts to revive growth that slowed to a two-and-a-half-year low of 8.9% in the final quarter of 2011.

Chinese leaders are gradually easing controls to boost growth and job creation but are moving cautiously for fear of igniting a new price spiral.

Press Association

 
 

Video Highlights

(video)

Men 'seen leaving hotel murder room'

An eyewitness saw the two men accused of murdering Michaela McAreavey emerge from her hotel room moments after he heard cries of anguish coming from inside, a court in Mauritius hears.

(video)

Pitt fever grips Cannes

Crowds went wild tonight as they caught a glimpse of Hollywood superstar Brad Pitt as he arrived at the premiere of his new film.Pitt, looking dapper in a black tuxedo and a pair of sunglasses, with his blond hair loose around his shoulders, sent fans into raptures as he paced quickly up and down the lines of fans bordering the pavement in Cannes, signing autographs.Angelina Jolie, Pitt's long-term partner with whom he has six children, was not on the red carpet with him at the festival in the French Riviera resort because of prior commitments.

(video)

IMF calls for Plan B on economy

The IMF said that further easing of monetary policy, by printing money or even cutting the 0.5% base interest rate, was "required" now to inject some vigour into a flat economy. And it said the Government should consider an immediate increase in spending on infrastructure to boost growth and employment.

View more



Most Popular

View more most popular

Highlights

Independentwoman.ie

Independent Woman

A fresh, fun site featuring celeb gossip, fashion, beauty, love & sex, and health & fitness.

Findajob.ie

Job search

Search for jobs by keyword, category, or location.

College

Third Level College

Diploma, Degree, Postgraduate and Professional Courses

Yourlocal.ie

Directory

Wherever you are... Find what you're looking for on Yourlocal.ie.

GrabOne

GrabOne

Daily Deals: Find the best things to do, see and eat in Ireland