China: Inflation at a 3 Year High

We have written about China's inflation problem and how the central bank is trying to cool down an overheated economy - we spotted this today:

" Chinese consumer prices accelerated further to 6.5% in July from 6.4% in the previous month, official data showed Tuesday, beating expectations and keeping alive the prospect that Beijing may maintain a restrictive monetary policy.

The reading marked the highest level for the consumer price index in more than three years, and was higher than consensus estimates of a 6.3% increase in separate Dow Jones Newswires and Reuters surveys of economists."

Statistics Source: MarketWatch