INFLATION COOLS IN CHINA, NOW IT'S TURN OF INDIA !

BEIJING - China's politically volatile consumer inflation rate eased in July, but prices rose by a still-high 6.3 percent over the same month last year, a government news agency reported Tuesday. 
The figure was a decline from June's 7.1 percent but well above the government's target of 4.8 percent for the year.
The government has imposed price controls on basic food items and taken other steps to stave off rapid price rises that communist leaders worry could fuel public frustration and possible protests.
The rise in overall consumer inflation has been largely driven by double-digit increases in the price of food.

Beijing's efforts to cool price rises have been hampered by sharp increases in global prices for oil and grain, as well as winter storms in southern China that wrecked crops.

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