Wednesday, April 04, 2007

Lunch: up 20 percent

On Saturday China's financial regulators told they would act fast on inflation. Unfortunately, my regular provider of lunch boxes was not reached in time, so I ended up paying 20 percent more for my food. On top of that he announced he would no longer serve single meals: two meals would be a minimum.
He tried to camouflage his evil deeds by first skipping the cheapest dishes and adding more expensive ones. On top of that he added two prawns. Tomorrow I will check some new suppliers, but it looks that the inflation rate for my lunch box this quarter will be 20 percent.
The damage for me is limited, the price went up from 10 to 12 yuan and a gin tonic tomorrow at the Cotton's bar might cause more financial damage, but on a macro-level, with millions of white-collar workers paying 20 percent more, the central bank should start to worry.

No comments: