Chinese inflation hits new high

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Inflation in China has increased to its highest level since June 2008, data released on Tuesday shows.

In a statement released by China's National Bureau of Statistics (NBS), estimates show the annual consumer price index in China increased from 6.4% to 6.5% in July – a small rise in comparison to the 0.9 percentage point jump in inflation experienced in June.

The move was largely driven by higher food prices, which were up 14.8% in the 12 months to July. In particular, the price of meat

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