China says inflation at 4.9 percent in August

BEIJING: China's inflation rate was 4.9 percent in August, down steeply from 6.3 percent in July, the government said on Wednesday.

The figure, reported by the National Bureau of Statistics, marked the fourth consecutive month of weakening inflation. The decline in inflation has allowed the government to shift its focus away from primarily curbing price increases to also trying to fuel economic growth.

Food prices, the main driver of inflation since last year, were up 10.3 percent in August from a year earlier. In July, food inflation had been 14.4 percent.

Non-food prices rose 2.1 percent in August from a year ago, the same level as in July.

The data came in the same week that Vice Premier Wang Qishan, who is in charge of economic and financial affairs, told a forum in southeast China that he was confident the government would be able to control inflation.

"We are confident about and capable of overcoming the current difficulties and challenges to achieve our goal of maintaining stable and fast economic growth while curbing excessive increases in prices," he said.