Chinese inflation cools in August

China's attempts to cool rising prices have begun to have an impact, as inflation slowed in August after hitting a three-year high the previous month.

The country’s consumer price index, a key indicator of inflation, rose 6.2% in August from a year earlier, down from a 6.5% risk in July, according to data released today by China’s National Bureau of Statistics. The Chinese government and most economists had predicted inflation would peak by August, and the slowdown is largely in line with expectations, the FT reports. Consumer prices rose 0.3 % in August from the previous month, compared with a 0.5% increase in July, marking the second consecutive moderation in the month-on-month reading. Food prices rose 13.4% in August from a y...