Inflation down in January

Inflation in China slowed in January, rising 2.2% from a year earlier, below December's 2.8%, Bloomberg reported. China is trying to prevent overheating of its economy, which expanded 10.7% last year, the fastest pace since 1995. Food prices jumped 5% in January, including a 6.9% increase in grain prices. China's central bank has set a target level of inflation of 3% or below this year and is monitoring the consumer price index and other economic data to help curb inflation.