China’s Rising Food Prices Cause Pain

From Time:

Sixty-seven-year-old Beijing housewife Wang Litan faced an agonizing choice recently: Wang requires painkillers to manage chronic back pain caused by diabetes, but the steep rise in China’s has forced her to choose between back pain and hunger pangs. “I need to keep taking diabetes medicines to stay alive, but I have traded in painkillers for meat,” she says. “This is the time that I will have to live with some pain.”

China’s National Bureau of Statistics announced this week that the Consumer Price Index () in the first quarter of this year was 8% higher than in the same period last year. Food prices, the biggest factor in spiraling , rose 21%. “China’s economy has entered a period of serious and it is more worrisome that the rising CPI doesn’t look like slowing down anytime soon,” comments He Fan, an economist at the Chinese Academy of Social Sciences. “Things are bound to get worse before getting better.”

Read also China to boost egg production as prices rise from Reuters, and China: Prices of farm goods, housing costs rise from AP.

April 18, 2008, 7:12 PM
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Categories: Economy, Society