Inflation in China

Chinese consumer prices eased in July,the National Bureau of Statistics reported.Food costs didn't rise as much as they had previously.The Consumer Price Index rose 6.3 year over year,while food rose 14.4-down from 17.3 in June.The overall CPI had declined from 7.1 in June,and was the lowest it had been in nearly a year.In contrast,the Producer Price Index was up 16 in July,probably reflecting raw materials costs to businesses in China.The Chinese economy is expected to grow 8-10% in 2008.