China inflation slumps for fourth-straight month

Chinese annual inflation plummeted by almost one-and-a-half percentage points last month to 4.9%.

The decline, which was sharper than analysts had predicted, came as demand slowed following the end of the Beijing Olympics.

Food-price inflation, which precipitated the earlier surge in overall inflation, fell sharply from 14.4% in July to 10.3%. The price of meat, poultry and processed products rose by 8%, down from 16% in the year to July and from 45.3% in the year to February.

Inflation has n