Chinese economy grows at 'slower' 9.6%

While the Communist state is still expanding far faster than any other major economy, China earlier this week increased interest rates for the first time in three years, in a bid to bring about more sustainable growth levels. While growth slowed somewhat, inflation increased at the fastest pace in almost two years in September. Prices rose 3.6% year-on-year, the fastest increase since October 2008. Food prices worryingly saw a significant jump over, rising more than 6%.