China's monthly inflation dips to 7.1 per cent

Beijing - China on Thursday reported another slight fall in monthly inflation to 7.1 per cent year-on-year in June, as it recorded estimated economic growth of 10.4 per cent in the first half of the year.

The rise of 7.1 per cent in June in the consumer price index (CPI) was down from 7.7 per cent in May and from a 12-year high of 8.7 per cent in February, and brought half-yearly inflation down to 7.9 per cent, the National Bureau of Statistics said.

Estimated gross domestic product (GDP) hit 13.06 trillion yuan (1.9 trillion dollars) from January to June, up 10.4 per cent year-on-year, compared with 8.6 per cent in the first half of 2007, the bureau said.

The World Bank last month raised its forecast for China's full-year economic growth to 9.8 per cent, marginally higher than its previous forecast, citing slowing inflation and limited economic impact from the devastating Sichuan earthquake in May.

In April, China raised its estimated GDP growth for last year to 11.9 per cent, the fastest growth since 1994. (dpa)

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