By Linda Young

Beijing, China

Chinese consumers saw inflation ease a bit in August after the inflation rate reached a three-year high in July, according to the National Statistics Bureau.

Consumer prices rose 6.2 percent in August compared to a year earlier. Most of that was from increases in food prices. However, although non-food inflation was only 3 percent, that still marked its highest level.

August marks the first month since December that the pace of inflation has slowed. In July, consumer prices in the world's second-largest economy rose by 6.5 percent compared to the same month in 2010.

China's Consumer Price Index measures the prices of a broad range of common items, including food, housing and clothing. Rapidly rising food prices have been responsible for much of the inflation in the country.

Food prices were up by 13.4 percent in August compared to a year earlier. Meat and poultry prices accounted for much of that increase, rising by 29.3 percent. Spending on food comprises roughly one-third of the amount an average person spends in China.

 

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World - China's Inflation Rate Eases Slightly | Global Viewpoint