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Chinese urbanites dissatisfied with commodity prices: bank survey
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07:44, September 21, 2007

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Chinese urban residents are dissatisfied with current prices of commodities and a record number believe inflation will continue to grow for the remainder of the year, according to a survey by the People's Bank of China.

A survey of 20,000 people from 50 Chinese cities, conducted by the central bank in late August, showed that only 3.5 percent considered prices satisfactory, down 4.9 percentage points from the third quarter and 7.5 percentage points from last year.

Forty-seven percent said prices were unacceptable, up from 29.5 percent in the second quarter, and a record high of 61.3 percent forecast prices would continue to increase in the fourth quarter, up 11.1 percentage points on the second quarter.

Meanwhile, 28.6 percent thought their income increased, up 2.7 percentage points from a year earlier but down 6.4 percentage points from the first quarter. Another 10.2 percent said their income was unpredictable, the highest figure for three years.

Source: Xinhua

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