China’s inflation fell to a 29-month low in June, giving Beijing more room to fight a deepening economic slowdown. Consumer prices rose 2.2 percent over a year earlier, down from May’s 3 percent, government data showed on Monday. Lower inflation clears the way for Beijing to cut interest rates or boost spending to reverse China’s deepest slump since the 2008 global crisis. Premier Wen Jiabao warned over the weekend that the country still faces “huge pressure” to decelerate. That suggested Beijing might roll out more stimulus measures following two rate cuts since the start of June.—AP
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