October 16, 2012
Inflation in China eased slightly in September, giving Chinese policymakers room to provide further economic stimulus measures as they try to stabilize the country's sharpest slowdown since the 2008 financial crisis.
Consumer prices grew 1.9% from a year earlier, down from 2% year-over-year growth in August. The gauge is closely watched because high inflation typically sows social discontent among China's massive working class.
Over the weekend Chinese officials disclosed that export growth and the money supply had expanded in September more than expected.
The data suggest that the world's second-largest economy could be stabilizing after limping along for most of the year. A dramatic drop-off in demand for Chinese goods in Europe as well as a tightened domestic property market has deeply hindered China's growth momentum.
On Thursday, the country will announce third-quarter gross domestic product numbers that are expected to show growth below the official annual target of 7.5%.
China has been reluctant to unleash aggressive stimulus measures, as it did after the 2008 crisis. Those measures led to inflation and a property bubble.
Experts said Beijing has also been unwilling to take bold financial steps with a once-in-a-decade leadership transition set for next month. The current leaders would rather allow their replacements to determine any major policy changes, they said.
david.pierson@latimes.com
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