Low-income families embrace Lunar New Year with price hikes
Updated: 2008-02-06 17:32
"My subsidy will increase to 260 yuan this year and my salary will also increase 120 yuan a month. Life will be better." said Liu, with a paralyzed husband and a schoolboy to feed.
To stabilize food prices, Chinese economic planner, the National Development and Reform Commission, has reassured that temporary price control measures have been implemented in all 31 provinces and municipalities on the Chinese mainland by January 26. The policy limited price rises of daily food and necessities such as meat, eggs and liquefied petroleum gas.
The already tightened supply was further stretched by disrupted transportation, which was also hampered by continuous snow and sleet over much of China.
Liu Guiying has truly felt the pressure as vegetable prices escalated. She visits the market regularly and buys bargains.
The Chinese government has taken actions to cope with the price rises. A total of 18,000 tons of reserve meat is set to be put into market before Spring Festival to ensure pork supply, according to the Ministry of Commerce.
Smooth shipment of vegetables and fruits between north and south will be guaranteed to cool down price rises resulting from the destroyed crops, Deputy Minister of Commerce Yu Guangzhou has said.
The National Development and Reform Commission asked local authorities to step up price monitoring and curb arbitrary price rises of such basic necessities as instant noodles, biscuit and pure water.
In spite of all the measures, prices will continue to rise for some time before the shortage in agricultural products, the main culprit for high inflation, is greatly eased, said Cao Changqing, director of the Pricing Department of the National Development and Reform Commission.
China's CPI is estimated to hit four percent in 2008, according to a latest report by the Chinese Academy of Social Sciences.
"My best wish in the new year is that the price would stop rising and life becomes better and better." Liu's wish may speaks for many low-income residents' aspirations.
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