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According To Its National Bureau Of Statistics, Chinese Food Prices Have Increased By 4.6%

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Only just coming up to the second year of inflating our way out of debt in the West and we have blown up China, the one country that was supposed to carry us through our debt woes.....

http://www.zerohedge.com/article/according-its-national-bureau-statistics-chinese-food-prices-have-increased-46-ten-days

This is simply stunning. A quick parsing of the data released every ten days by the National Bureau Of Statistics of China indicates that the average price of food in 50 cities in the January 21-31 period has increased by 4.6% compared to the prior 10 day period (and 416% annualized)! Granted, this is a simple average calculation of the 29 food items tracked without any weighing, although a quick glance at the components confirms that tonight's Chinese CPI will likely be a doozy. Some of the key changes: cucumbers up 28.2% in ten days, kidney beans up 21.9%, rapes [no pun] up 14.5%, tomatoes up 12.9%, hair tails up 4.7%, bananas up 3.6%, chickens up 3.1%. And this, again, is in the past 10 days! But not all is lost: Soybean oil actually dropped by 0.1%. Time for China to release an adjusted adjusted CPI which excludes all foodstuffs except for Soybean oil (and remember, in China, food is 31.4% of CPI)... which actually is exactly what is about to happen.

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Isn't this how hyperinflationary events start?

Nahh, the danger is deflation. I see it around me, everything is getting cheaper.

Keeps me awake at night I can tell you.

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China Has Adjusted Weighting Of Components In CPI - Report

SHANGHAI (Dow Jones)--China has adjusted the weighting of the components making the consumer price index and lowered the weighting of food at the start of the year, the state-run China Securities Journal reported Tuesday, citing an unnamed official at the National Bureau of Statistics.

But the report quoted Xian Zude, chief statistician of the bureau, as saying that the new CPI statistical model will reflect changes in consumption and price levels more accurately, and won't result in a lower index reading.

The report came ahead of the release of January CPI data Tuesday morning. On Monday, state-run Xinhua News Agency quoted government economist Ba Shusong as saying that China's CPI for January may be lower than market expectations, without elaborating.

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...over £5 for the Original Cans in Sainsburys ...that's inflation even with the VAT increase ....

mine were guinness draught, from a sainsburys in edinburgh, they switch around the brands on reduction, some nights it`s original, some nights it`s draught, my point is they wouldn`t need to do this in an inflationary environment?

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mine were guinness draught, from a sainsburys in edinburgh, they switch around the brands on reduction, some nights it`s original, some nights it`s draught, my point is they wouldn`t need to do this in an inflationary environment?

...yes ...I bought the draught but it was reduced only to £4 + here....maybe managers have flexibility in pricing

...if there is an Aldi in the area their Murphys is always around the £3 mark ....

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How nice lowering the weighting of food, I assume that means in statistical terms food price increases won't be as important to the inflation figures. Lucky people can survive without food.

My prawn foo yung has gone from £6.95 to £7.45..over 7%.

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Saw a snippet on Bloomberg this morning. Due to runaway food inflation China are manipulating their CPI figures by removing food items from the basket and loading it with cheap electronic consumer goods.

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National Bureau Of Statistics of China [/url]indicates that the average price of food in 50 cities in the January 21-31 period has increased by 4.6% compared to the prior 10 day period (and 416% annualized)

Chinese New Year 3rd February. Prices always increase in the run up. It would be good if they had some cursory knowledge of China before going mental with the goldbug hyperinflationista bollocks......

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It seems to me one pattern of these global riots/unrests, is where food prices absorb nearly (or over) half of the proles income.

Looks like a good indicator of social unrest to me, no wonder the chinese government have banned the keyword "Eygpt".

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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