Chinese people are feeling the pinch from rising prices, especially in regards to food and housing, and a majority believe prices will rise this year, an ongoing poll shows.
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, according to an online survey conducted by the People’s Daily Online, the official website of the flagship newspaper of the Communist Party of China.
The poll shows that 77 percent of respondents believe the consumer price index (CPI), a main gauge of inflation, will rise by a large margin this year.
China’s CPI rose 2.6 percent year on year in 2012, below the government’s target of 4 percent, with food prices rising 4.8 percent year on year, data from the National Bureau of Statistics shows.
via Xinhua
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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