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.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.