Rising Inflation In China Has Consumer Doing The Exact Opposite Of What Everyone Wants

Whoops.

Shanghai Daily:

CHINESE urban residents prefer to tighten their belts as inflation expectations pinched consumers, a central bank survey said today.

More than half of respondents said current prices were “too high to afford”, a record high since the central bank first conducted the national survey in 1999 in 50 major cities, the People’s Bank of China said on its Website today.

Read more at Shanghai Daily >

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