Weblog with daily updates of the news on a frugal, fair and beautiful China, from the perspective of internet entrepreneur, new media advisor and president of the China Speakers Bureau Fons Tuinstra
Monday, December 11, 2006
baozi's
economy - Inflation hits my breakfast
It is now official: inflation is going up to 1.9 percent over November, reports Bloomberg. The consumer prices are going up, according to the National Bureau of Statistics, the biggest gain in 20 months.
December saw also a stiff increase of the price of at least my typical breakfast. When I leave my apartment early in the morning, I mostly pick up three baozi's for a total of 2.1 Renminibi (€ 0.21). Last week the prices went up from 0.7 to 0.8 per piece, bringing my breakfast to 2.4 Renminbi (€ 0.24), well over ten percent.
They had of course a problem in de store. Since the cent does not exist here anymore, they had to increase the price with one yao.
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