China’s inflation slowed sharply in June, giving the government more leeway to stimulate the stuttering economy.
The consumer price index rose 2.2 per cent in June from a year earlier, down from 3 per cent in May. Inflation is now well below the government’s target this year of a 4 per cent rate.
“Lower CPI opens room for further policy easing, which we expect will pick up,” said Zhang Zhiwei, an economist with Nomura.
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