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Q: Have you noticed things getting more expensive lately?
Prices always go up, but I dont always notice it right away. Do you feel that the inflation is more noticable recently?
12 years 10 weeks ago in Money & Banking - China
Do you mean here in China ?. If so, yes, maybe more noticdeable for me at areas around food and related items. I do some of my shopping at a local huge open market, and items like eggs, rice, fresh vegetables, roots, and even some of the meats have gone up in the last weeks. Not much, maybe 1 or 2 Rmb per lin (500 grams), but definitively in an upwards cycle. In other areas such as rent, utilities, transportation, etc I have not seen costs going up yet.
A friend of mine remarked on how the price of fried rice at the restaurant we were eating at had gone up a little. I don't really know if I've noticed it myself, though. I don't completely ignore prices on food, but I don't pay close attention either.
McDonald's has raised their prices AGAIN for the 4th time in less than 18 months. That's one of the best indicators to know cost of living expenses. Search for the "Big Mac Index" to see how places in the world compare.
Over the past 5 years, the cost of EVERYTHING (except cigarettes) has increased in China. You used to get a sack of vegetables from the wet market and spend about 15rmb - now it's about 30.
So yes, prices have increased a LOT and they will continue to do so. Let's hope wages follow.
bike-gypsy:
that is what sparked this question. I noticed the Big Mac was up suddenly, and the next day my simple cup of starbucks coffee was also up 2 yuan
MrTibbles:
I always keep an eye on the Big Mac Index - sadly, it's one of the best ways to see how cost of living is in a country. I'd really love to see a KFC index for China, as I believe it would be even more telling, as YUM! Brands has a much larger market share here. KFC has also recently raised prices by 1rmb for a lot of items. It's safe to say that cost of goods and the supply chain costs are increasing here. Supposedly, minimum wage is set to increase here by 13% each year until 2015 and I'm pretty sure these costs will be folded in to consumer prices, yet I highly doubt anyone making over minimum wage will be getting a cost of living salary increase.
Definately. The water reader came by the other night and told my wife water is going up 2 Yuan per unit. We used to shop for coffee at Carrefore, but after they went up to 30 Yuan a bag, we started shopping at a little local place. They had it for 25 yuan a bag. Now, guess what? They have gone up, too.
Even the local veggie marts are charging 1 or 2 Yuan more for the same item from just a few months ago. Time for a cost of living raise!
