Chinese prices keep climbing

@CNNMoney April 9, 2012: 8:18 AM ET
Chinese consumers pay the price for prosperity, facing inflation across a wide spectrum of goods.

Chinese consumers pay the price for prosperity, facing inflation across a wide spectrum of goods.

NEW YORK (CNNMoney) -- Chinese consumers continue to pay the price for economic prosperity, in the form of inflation for pork, alcohol, traditional medicine and other products, the government reported Monday.

The cost of living kept rising in China last month, especially for food prices, the government's National Bureau of Statistic said. The national consumer price level rose 3.6% in March, year-over-year, including a 7.5% spike in food.

The price of pork, a staple in Chinese cuisine, rose 11.3% year-over-year, while the price of fresh vegetables soared 20.5%.

The price of alcohol took off, up by 8.3% year-over-year.

The price of Chinese herbal medicines jumped 8.5% year-over-year, compared to slight slump by 0.1% in the price of Western medicine.

Chinese consumers need stimulus checks

While inflation poses challenges for consumers, it is the byproduct of one of the most robust economies in the world. Chinese gross domestic product surged 9.2% last year, compared to an increase of 1.7% in GDP for the U.S.

The Chinese economy is slowing down from its frenetic activity, particularly in the area of industrial manufacturing. Much of the current rhetoric from analysts concerning China is about how fast or how slow the economy will continue to downshift, to a soft landing or a hard landing. To top of page

Overnight Avg Rate Latest Change Last Week
30 yr fixed4.01%4.03%
15 yr fixed3.12%2.97%
5/1 ARM3.11%2.99%
30 yr refi4.04%4.09%
15 yr refi3.15%3.05%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
CNNMoney Sponsors

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.