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Chinese feel pinch of rising prices
Source: Xinhua |
February 26, 2013, Tuesday
|
Print Edition
Print Edition
CHINESE people are feeling the pinch from rising food and housing prices, and a majority believe they will climb this year, according to an ongoing poll.
Around 75 percent of respondents said food prices have the largest impact on their lives, while 15 percent pointed to rising home costs and rent, an online survey conducted by the People's Daily Online, the official website of the flagship newspaper of the Communist Party of China, revealed.
The poll shows that 77 percent of respondents believe the consumer price index, a main gauge of inflation, will rise by a large margin this year.
China's CPI rose 2.6 percent annually in 2012, below the government's target of 4 percent, with food prices up 4.8 percent year on year, the National Bureau of Statistics said.
Yi Xianrong, a researcher with the Chinese Academy of Social Sciences, said China is facing rising inflationary pressure this year due to the country's rising labor costs, the market-oriented reform of resource products and imported inflation.
Around 75 percent of respondents said food prices have the largest impact on their lives, while 15 percent pointed to rising home costs and rent, an online survey conducted by the People's Daily Online, the official website of the flagship newspaper of the Communist Party of China, revealed.
The poll shows that 77 percent of respondents believe the consumer price index, a main gauge of inflation, will rise by a large margin this year.
China's CPI rose 2.6 percent annually in 2012, below the government's target of 4 percent, with food prices up 4.8 percent year on year, the National Bureau of Statistics said.
Yi Xianrong, a researcher with the Chinese Academy of Social Sciences, said China is facing rising inflationary pressure this year due to the country's rising labor costs, the market-oriented reform of resource products and imported inflation.
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