Arab Today, arab today in china soaring food prices mean leaner diets
Last Updated : GMT 09:09:51
Arab Today, arab today
Arab Today, arab today

In China soaring food prices mean leaner diets

Arab Today, arab today

Arab Today, arab today In China soaring food prices mean leaner diets

Beijing - AFP

Li Ping and her husband, both retirees, pick over the offerings at a Beijing market to prepare traditional dumplings for the Dragon Boat festival. Rocketing food prices are limiting their options. \"We can hardly afford meat now, it\'s too expensive,\" Li, 67, tells AFP, explaining that they now only enjoy that privilege two or three times a month. Apples are also too dear. Chinese authorities say reining in inflation is their top priority for the year, and have taken a raft of policy measures to cool prices. But those moves are not yet trickling down to help low-income households like Li\'s. Li\'s pension provides her with 1,100 yuan ($170) a month far from enough to deal with spiralling prices. \"My kids have to subsidise us,\" she said. \"We will have to depend on them in the future. I feel guilty.\" The couple bought some vegetables, sticky rice and wrapping leaves to make the dumplings 10 days before Monday\'s Dragon Boat festival a pre-emptive move to avoid expected price rises as the holiday draws nearer. China\'s consumer price index, a key gauge of inflation, rose 5.3 percent on year in April driven by increasing food prices a slight easing from the previous month but still well above Beijing\'s four percent target for 2011. May inflation data is due next week. The central bank has responded to growing price pressures by raising interest rates four times since October and repeatedly increasing the amount of money banks must keep in reserve effectively cutting their lending power. Authorities have also intervened directly in the market, warning a number of companies not to raise prices as they crack down on hoarding and pledge subsidies to the poor. However, analysts warn that current price hikes are much more serious than those seen in previous years, with the cost of everything from land to labour to raw materials all climbing. \"Inflation pressures are far more stubborn this time because structural inflation is a much bigger problem than it was at any time in the last decade,\" said Ben Simpfendorfer, managing director of economic consultancy firm China Insider. Analysts are expecting the May inflation rate to exceed the 5.4 percent in March a 32-month high as domestic demand, bolstered by low interest rate levels and massive government spending, remains strong. In addition, a prolonged drought along China\'s Yangtze river which has left millions of people and livestock without water and devastated a major grain-producing belt may further complicate the battle against inflation. The average price of 17 out of the 29 staple foods monitored by the National Bureau of Statistics soared month-on-month in the May 11-20 period, with the price of one type of fish surging by 22.5 percent. \"The ongoing drought in central-southern China and a rise in pork prices may delay the peak of food price inflation and keep it elevated for a couple of months longer,\" said Wang Tao, a Beijing-based economist with UBS. The drought has also reduced the output of hydroelectric power, China\'s second-biggest energy source after coal, contributing to a government decision to raise the cost of electricity for industrial use in 15 areas from June 1. Although authorities have so far kept residential power prices unchanged, concerns are growing that the hikes may eventually be passed on to consumers. Following Beijing\'s measures to cool the economy and contain price rises, growth in the world\'s second-largest economy has already shown signs of a moderation with expansion in manufacturing activities slowing in recent months. But the tightening is expected to continue as Chinese policymakers are ever wary of inflation\'s history of triggering social unrest, experts said. \"Inflation is still a bigger risk, at least to a large part, because of the social impact,\" said Cui Li, a Hong Kong-based economist with Royal Bank of Scotland. At the Beijing market, 71-year-old Xie Zhong threw a batch of spinach, which was priced at 1.50 yuan, back onto a stall. \"I will not buy it, it\'s ridiculous,\" he said, grunting that it cost one yuan just a week before. \"No-one can contain the price rises. Only the government can do something.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today in china soaring food prices mean leaner diets Arab Today, arab today in china soaring food prices mean leaner diets

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today in china soaring food prices mean leaner diets Arab Today, arab today in china soaring food prices mean leaner diets

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Prayers turn to nightmare

GMT 06:14 2017 Sunday ,22 October

Prayers turn to nightmare
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday