China is frantically hiking rates to fight surging inflation. And while we know the country’s CPI grew at a rate of 5.3% in April, understanding what that looks like for Chinese on the ground level provides a clearer view into what is currently frightening the regime into sanctioning wage increases.
This chart from China Daily shows just how much prices are rising for regular Shanghai consumers. The steamed bun price rise is particularly worrying.
Read more on the Shanghai inflation problem at China Daily >
[credit provider=”China Daily” url=”http://www.chinadaily.com.cn/bizchina/2011-05/12/content_12494678.htm”]