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China inflation accelerates to 2.4% year-on-year in March

Published on Apr 11, 2014 11:05 AM

BEIJING (AFP) China's inflation rate accelerated to 2.4 per cent year-on-year in March, the government said Friday, driven by higher food prices.

The increase in the consumer price index (CPI) announced by the National Bureau of Statistics (NBS) was up from the 2.0 per cent recorded in February, but marginally below economist forecasts of 2.5 per cent reported by Dow Jones Newswires.

Food prices rose 4.1 per cent in March from the year before, the NBS said.

The acceleration in inflation may assuage economists' concerns that the risk of deflation in the world's second-largest economy was rising after February's figure.

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