Chinese residents still hold high inflation expectations

15:54, March 17, 2010      

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Chinese residents believe the current price levels and housing prices are high, and anticipate more inflation to come, according to the survey results released by the People's Bank of China (PBOC) March 16.

According to the PBOC's summarized report on a survey conducted on Chinese urban residents in the 1st quarter of 2010, residents' price satisfaction index fell to 25.9 percent, down 2.3 percentage points from the previous quarter. Up to 51 percent of those surveyed think that the current price level is high and unacceptable, the highest amount since the survey was first conducted in 1999. Over 70 percent of residents believe that the current housing price is too high and unacceptable as well.

There are fewer residents expecting the price levels to increase in the 2nd quarter than that in the previous quarter, but residents still harbor growing inflation expectations as the new season is coming up. The future price expectation index stood at around 67 percent.

According to the survey, residents are optimistic about income and employment, but they tend to control their consumption and would like to make deposits and other investments.

By People's Daily Online
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