With price hikes, Chinese begin number crunching: What can you buy with 100 yuan?
What can you buy with 100 yuan (US$15) this November?
Netizens speculate on the cause for inflation
On the internet, people have different takes on the issue. Some say that reduction in farmland on the outskirts of Beijing is one factor. Produce has to be transported from afar, which increases the cost.
Jiang Yuan’s view has been seconded by most people. He believes the depreciation of the U.S. dollar has triggered the rise of raw materials, crude oil, agricultural products and other staple goods on the global market, which leads to the rise of food commodity prices.
“There must be profiteers at large making waves. Prices of some vegetables whizzed up, while the demand and supply haven’t changed much. It’s even crazier than the stock market. It is absolutely fishy,” many internet users call for government intervention to crack down on profiteering and stabilize the commodity prices.