BEIJING (AP) -- Chinese leaders declared Friday that fighting inflation will remain their top economic priority, state television reported, despite suggestions that slowing growth and weakening exports might prompt them to ease tight monetary controls.In a report issued after a meeting on economic policy, the Politburo of the ruling Communist Party said fighting sharp price rises is "the priority task" and Beijing must "strengthen and improve macroeconomic control," the report said. The meeting was led by President Hu Jintao, who also is the party's general secretary, and included Premier Wen Jiabao and other members of China's ruling elite.
The report gave no details of possible new anti-inflation measures and made no mention of interest rates or any possible initiatives to help struggling exporters.
The government is trying to cool inflation that pushed up consumer prices by 7.1 percent compared with the same month last year. That was a decline from May's 7.7 percent but still well above the government's target of 4.8 percent for the full year. Food prices have been rising much faster, climbing at annual rates of nearly 20 percent.
Read More
