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China's inflation falls as Beijing cuts rates
Posted: Jul 8, 2012 7:48 PM by CJ, The Associated Press
BEIJING (AP) - China's inflation fell further in June as the government cut interest rates to stimulate its slowing economy.
The government said Monday that consumer prices rose 2.2 percent over a year ago, down from May's 3 percent rise.
Beijing tightened controls last year to cool an overheated economy and inflation but reversed course after global demand plunged and growth abruptly slowed. It has cut interest rates twice since the start of June as it tries to pull the economy out of its deepest slump since the 2008 global crisis.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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