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Inflation in China & South America - 11/18/2007 9:28:27 AM

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Beijing - Mrs. Wang stood by the shelves of cooking oil in one of Beijing's biggest supermarkets, inspecting the price stickers carefully.

A retired factory worker on a modest pension, Wang, who gave only one name, used to be able to buy her favorite brand of oil, a key ingredient in Chinese cuisine. "Today I buy whichever brand is cheap," she says. "We are feeling the pinch of rising food prices. We don't live as well as before."

Food prices, 17.6 percent higher than a year ago, have pushed China's consumer price index up faster than it has risen for a decade, official figures released this week showed.

http://news.yahoo.com/s/csm/20071116/wl_csm/ocookoil;_ylt=AlcQ63mm7Kdh62jQ8bmZcNis0NUE

LA MATANZA , Argentina — Miguel Mendez's wages as a restaurant cook haven't risen much over the past year, but the price of potatoes where he shops has doubled. Prices also have skyrocketed for tomatoes, apple cider, sweet bread and other foods.

"We're feeling it at home," said Mendez, who lives in this middle-class city outside the Argentine capital, Buenos Aires . "We spend more money now for less."

In South America , the age-old curse of inflation is making a comeback.

Prices in Argentina and Venezuela , which have seen robust economic growth over the past four years, have risen by nearly 20 percent this year, economists estimate. For Argentina , that's the highest rate since 2003, when the country was wrestling with an economic crisis. For Venezuela , the rate is the highest since 2004, when the country was emerging from a deep recession.

http://news.yahoo.com/s/mcclatchy/20071116/wl_mcclatchy/20071116bclataminflation_attn_national_foreign_editors_ytop;_ylt=AqwnCQ7iAL0T867OQACjKgas0NUE

< Message edited by Level -- 11/18/2007 9:34:36 AM >

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RE: Inflation in China - 11/18/2007 9:40:21 AM

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If you think that is bad the African country of Zimbabwe had nearly a 1000% (yes one thousand) inflation rate in 2006 and it even higher now.

https://www.cia.gov/library/publications/the-world-factbook/geos/zi.html

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RE: Inflation in China - 11/18/2007 10:46:24 AM

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quote:

ORIGINAL: Nosathro

If you think that is bad the African country of Zimbabwe had nearly a 1000% (yes one thousand) inflation rate in 2006 and it even higher now.

https://www.cia.gov/library/publications/the-world-factbook/geos/zi.html

Good, I hope they have 10,000% inflation.
Who's that nut who's their "president?"
He told the "West" to go fuck themselves basically.
I certainly hope they don't get any foreign aid from us.

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RE: Inflation in China - 11/18/2007 11:22:14 AM

pahunkboy

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Gee I notice inflation here. ANything I touch went up in price. I dont mean by a penny either. Official inflation is 2.1%

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RE: Inflation in China - 11/18/2007 11:26:31 AM

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quote:

ORIGINAL: pahunkboy

Gee I notice inflation here. ANything I touch went up in price. I dont mean by a penny either. Official inflation is 2.1%

PaHunk, that "official" govt figure is CRAP!
They only count "a basket" of items that are pretty stable in price anyway!

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RE: Inflation in China - 11/18/2007 11:52:33 AM

pinksugarsub

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Will inflation in other parts of the world exasperate our inflation rates? i cannot remember anything from macro-economics.

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RE: Inflation in China - 11/18/2007 11:58:55 AM

subfever

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quote:

ORIGINAL: popeye1250

quote:

ORIGINAL: Nosathro

If you think that is bad the African country of Zimbabwe had nearly a 1000% (yes one thousand) inflation rate in 2006 and it even higher now.

https://www.cia.gov/library/publications/the-world-factbook/geos/zi.html

Good, I hope they have 10,000% inflation.
Who's that nut who's their "president?"
He told the "West" to go fuck themselves basically.
I certainly hope they don't get any foreign aid from us.

And so then, if they have a nut for a president, the peasants should suffer 10,000% inflation? Please explain your logic.

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RE: Inflation in China - 11/18/2007 12:00:48 PM

subfever

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quote:

ORIGINAL: popeye1250

quote:

ORIGINAL: pahunkboy

Gee I notice inflation here. ANything I touch went up in price. I dont mean by a penny either. Official inflation is 2.1%

PaHunk, that "official" govt figure is CRAP!
They only count "a basket" of items that are pretty stable in price anyway!

Yup, just more government propaganda, in hopes that the peasants will see the economy through rose-colored glasses and keep spending.

< Message edited by subfever -- 11/18/2007 12:35:14 PM >

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RE: Inflation in China - 11/18/2007 12:34:51 PM

pahunkboy

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quote:

ORIGINAL: popeye1250

quote:

ORIGINAL: pahunkboy

Gee I notice inflation here. ANything I touch went up in price. I dont mean by a penny either. Official inflation is 2.1%

PaHunk, that "official" govt figure is CRAP!
They only count "a basket" of items that are pretty stable in price anyway!