China food costs push inflation to 5.5 pct in May
SHANGHAI (AP) — China's inflation rebounded in May, buoyed by stubbornly high food prices despite signs that interest rate hikes and other controls have begun to cool the overheated economy.
Consumer prices rose 5.5 percent over a year earlier, driven by an 11.7 percent jump in food costs, data showed Tuesday. That was up from April's 5.3 percent rate and exceeded March's 32-month high of 5.4 percent.
The figure was in line with economists' forecasts, but well above the government's 4 percent target for the year.