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Survey: rising prices hobble happiness

2011-08-17 10:46    Ecns.cn     Web Editor: Wang Fan
Many people are trying group buying and purchasing bargain-priced goods to fight inflation.

Many people are trying group buying and purchasing bargain-priced goods to fight inflation.

(Ecns.cn) -- From 4.9% in January to 6.5% in July, China's consumer price index (CPI) – a major gauge of inflation – has risen to a three-year high, slightly higher than the pace of growth registered in June. Under such circumstances, prices of food, clothing, housing and transportation have all surged, causing negative impacts on all aspects of life.

According to a survey of 2,175 people conducted by the Social Survey Center of China Youth Daily last week, 89.3% claimed that rising prices have undoubtedly affected their lives, and 49.2% complained that the influence was significant.

After categorizing the interviewees into different groups by income, it was observed that the lower the income, the larger the impact. Among those whose monthly income was lower than 2,000 yuan ($309), 94.5% admitted that they had been affected by rising prices. For those with incomes between 2,000 yuan and 3,500 yuan ($541) per month, 91.4% said they had felt the impact. In the group between 3,500 yuan and 5,000 yuan ($773), the figure dropped to 86.1%. For those whose monthly income was higher than 5,000 yuan, the figure was 74.2%.

55.2% said they had not seen any change in their income, 25% had enjoyed an increase, and 19.8% had suffered a falling income.

Dining affected most

Chen Li (alias), a staff member at a company in Beijing who has worked for a little over a year, says the pressure of daily life grows with each passing day. Currently his income, combined with his girlfriend's, is about 7,000 yuan ($1,082), an amount they claim is barely enough to buy food and clothing.

Chen says that most of the pressure comes from dining. Because he and his girlfriend get off work late in the evening, he says, they don't usually have the energy to cook, leading to them eat out often. In order to ensure hygiene, they usually go to comparatively fine restaurants, which generally costs them at least 50 yuan ($8), even if they eat frugally. One or two dinners at fine dining restaurants can reach up to 2,000 yuan ($309) a month.

Moreover, as a trend-conscious young man, Chen is fond of fashionable clothing. He says while studying at college he would sometimes buy expensive new arrivals from clothing shops. Now, however, he understands how difficult it is to buy expensive things with his own money; and because there is so much temptation, Chen is sometimes frustrated – a pair of trousers or shoes can easily cost more than 1,000 yuan ($155).

Apart from dining, housing is also unaffordable for many people with low incomes. Wang Fei (alias) is a friend of Chen Li who also graduated from university less than two years ago. Wang's monthly income is only 2,000 yuan ($309). His landlord recently informed him that he would raise the rent on Wang's room from 1,000 yuan ($155) to 1,500 yuan ($232) a month, which is out of the question for Wang – the current rent is already half of his monthly income. Without a second thought Wang decided to move somewhere very far from where he works, creating additional inconvenience.

In the survey, 85.1% chose dining as the most affected by rising prices, while 57.7% cited transportation, and 55.1% housing. Other aspects included entertainment (33.4%), investment (24.7%) and training (18.9%).