Prices in China continued to rise at a steady pace in September, a sign that the world's largest nation still faces significant inflation pressures even amid signs of a slowing global economy. Overall prices were up 6.1% from a year ago, little improved from the 6.2% rise in August. The reading matched the consensus forecast, according to Jay Bryson, international economist at Wells Fargo Securities. Food prices continued to lead the way, increasing 13.4%, the same as the previous month, and adding 4.1 percentage points to the overall increase. "Food price increases seems to be, at a minimum, stabilizing, maybe even beginning to recede for some products," Bryson said. Food prices were increasing at a 14.8% annual rate as recently as July. The Chinese government has been taking steps to try to curb inflation. The People's Bank of China has raised it key interest rates five times since October. And it has also allowed the Chinese currency, the yuan, to
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