China reported unexpectedly high consumer inflation of 6.5% in July -- its highest level in over three years -- magnifying concerns that the country will not be able to bail out a faltering global economy as it did after the 2008 financial crisis.

　　中國(guó)宣布7月份消費(fèi)者價(jià)格指數(shù)（CPI）的漲幅達(dá)到6.5%，這一漲幅之高出人意料，它創(chuàng)下了三年來(lái)的最高水平，使人更加擔(dān)心中國(guó)將無(wú)法像它在2008年全球金融危機(jī)爆發(fā)后那樣，向風(fēng)雨飄搖中的全球經(jīng)濟(jì)提供救援。

　　The July consumer price index topped the 6.4% year-on-year level reached in June. Still, many economists maintain that inflation has likely peaked and will come down gradually in the coming months, partly due to falling oil and commodity prices and a recent slight decline in Chinese pork prices.

　　7月份的消費(fèi)者價(jià)格指數(shù)漲幅超過(guò)了6月份6.4%的水平。不過(guò)許多經(jīng)濟(jì)學(xué)家依然認(rèn)為，中國(guó)的通脹率可能已經(jīng)見(jiàn)頂，未來(lái)幾個(gè)月將逐步下降，這一定程度上是因?yàn)槭秃痛笞谏唐穬r(jià)格不斷下跌，以及中國(guó)的豬肉價(jià)格最近出現(xiàn)了小幅下降。

　　However, just as global markets are buckling under concerns of a “double-dip” recession in the United States and sovereign debt woes in Europe, Tuesday's data show that inflation in China is still accelerating despite more than a year-and-a-half of monetary tightening.

　　不過(guò)，就在全球市場(chǎng)紛紛陷入對(duì)美國(guó)經(jīng)濟(jì)“二次衰退”以及歐洲主權(quán)債務(wù)問(wèn)題的擔(dān)憂(yōu)之際，中國(guó)周二公布的CPI數(shù)據(jù)卻顯示，盡管政府實(shí)施了超過(guò)一年半的貨幣緊縮政策，但中國(guó)物價(jià)仍在加速上漲。

　　The rise in the key inflation gauge exceeded the median 6.3% gain forecast by 13 economists in a Dow Jones Newswires survey.

　　中國(guó)7月份的CPI增幅高于預(yù)期，此前13位接受道瓊斯通訊社（Dow Jones Newswires）調(diào)查的經(jīng)濟(jì)學(xué)家的預(yù)測(cè)中值是上漲6.3%。

　　The unexpectedly high number means that China has no room to loosen policy in response to global market downturns, says Wei Yao, economist at Societe Generale. 'This is the kind of data that should trigger interest rate hikes, but given uncertainties in global market, they are likely to pause,' Ms. Yao says.

　　法國(guó)興業(yè)銀行（Societe Generale）的經(jīng)濟(jì)學(xué)家姚偉說(shuō)，7月份CPI增幅高于預(yù)期意味著，中國(guó)沒(méi)有為應(yīng)對(duì)全球市場(chǎng)低迷而放松政策的余地。她說(shuō)，這是那種應(yīng)該引發(fā)利率上調(diào)的數(shù)據(jù)，但鑒于全球市場(chǎng)的不確定性，中國(guó)政府預(yù)計(jì)在利率方面會(huì)按兵不動(dòng)。

　　If inflation remains high and global growth falters, “that would be a very uncomfortable combination for China's policy makers,” Ms. Yao added.

　　姚偉還說(shuō)，如果中國(guó)的通脹率依然高企而全球經(jīng)濟(jì)增長(zhǎng)卻開(kāi)始步履蹣跚，這兩種局面的疊加將令中國(guó)決策者非常不舒服。

　　Other economists echoed the concern. “The room for China to stimulate itself out of the problem will be smaller than 2008/2009,” wrote Vincent Chan and Peggy Chan, analysts at Credit Suisse.

　　Bloomberg News周一，北京一條購(gòu)物街上，站在商戶(hù)櫥窗外的行人。其他經(jīng)濟(jì)學(xué)家也表達(dá)了同樣的擔(dān)憂(yōu)。瑞信（Credit Suisse）分析師陳昌華（Vincent Chan）和Peggy Chan寫(xiě)道：與2008/2009年時(shí)相比，中國(guó)通過(guò)刺激手段使自己擺脫困境的余地變小了。

　　Massive Chinese spending after the 2008 financial meltdown helped drag the global economy out the depths of its crisis. Chinese investment in high speed railways, highways and ports spurred demand for everything from iron ore from Australia and copper from Chile -- and boosted the bottom lines of Western multinationals selling equipment and technology to China.

　　2008年金融危機(jī)后，中國(guó)大規(guī)模的開(kāi)支幫助全球經(jīng)濟(jì)走出了危機(jī)深淵。中國(guó)對(duì)高速鐵路、高速公路和港口建設(shè)的投資刺激了對(duì)從澳大利亞的鐵礦石到智利的銅等各類(lèi)原材料的需求，并使在華銷(xiāo)售設(shè)備和技術(shù)的西方跨國(guó)公司收入大增。

　　The government has already conceded that it won't be able to meet its official inflation target of 4% this year.

　　中國(guó)政府已經(jīng)承認(rèn)無(wú)法達(dá)到今年4%的官方通脹目標(biāo)。

　　The biggest culprit of rising inflation was food prices, which rose 14.8% from a year earlier, up from 14.4% in June.

　　通脹升高的最大元兇是食品價(jià)格，同比增長(zhǎng)14.8%，較6月增加14.4%。

　　Meanwhile, the producer price index, an indicator of upstream inflation pressures, rose 7.5% from a year earlier in July, quicker than June's 7.1% year-on-year rise and in-line with economists' expectations.

　　與此同時(shí)，衡量上游通脹壓力的生產(chǎn)者價(jià)格指數(shù)7月同比增長(zhǎng)7.5%，高于6月7.1%的同比增幅，與經(jīng)濟(jì)學(xué)家預(yù)期一致。

　　The inflation data adds to concerns among Chinese policymakers about growth following the credit downgrading of the U.S. by Standard & Poor's. Despite years of effort to stimulate consumption in China, the economy is still highly dependent on exports to the U.S. and Europe.

　　通脹數(shù)據(jù)加劇了中國(guó)決策者在標(biāo)準(zhǔn)普爾（Standard & Poor's）下調(diào)美國(guó)信用評(píng)級(jí)后對(duì)增長(zhǎng)的擔(dān)憂(yōu)。盡管中國(guó)多年來(lái)一直努力刺激內(nèi)需，但經(jīng)濟(jì)依然嚴(yán)重依賴(lài)于對(duì)美國(guó)和歐洲的出口。

　　Official Chinese media have poured vitriol at Washington, accusing it of financial mismanagement.

　　中國(guó)官方媒體紛紛對(duì)華盛頓提出尖銳批評(píng)，指責(zé)美國(guó)管理金融不力。