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China’s June inflation rose to 2.7%

AFP-JIJI

China’s annual inflation accelerated to 2.7 percent in June, up from 2.1 percent in the previous month, official data showed Tuesday.

The consumer price index (CPI) figures from the National Bureau of Statistics were higher than market expectations of 2.5 percent in a poll of 18 economists by Dow Jones Newswires.

Food price increases hit 4.9 percent year-on-year in June and remained the main driving force of inflation last month, according to an NBS statement. In the first half of the year, CPI gained 2.4 percent from the same period last year, it said. China, the world’s second-largest economy, has set its inflation target for 2013 at 3.5 percent, higher than last year’s actual inflation rate of 2.6 percent.