Consumers yet to feel lower cost of living
By Liu Jie | China Daily | Updated: 2009-05-12 08:10
Though the cost of living declined last month in China, a majority of the citizens are yet to feel the impact of the same in the retail market, while retailers have said their profit margins have been squeezed.
The Consumer Price Index (CPI), which measures a typical basket of goods bought by consumers, fell 1.5 percent year-on-year in April, a decline of 0.2 percent compared with a month earlier, said the National Bureau of Statistics yesterday. The major gauge of inflation has so far seen year-on-year slides for three consecutive months now.
"I don't feel like I have spent less money now," said Kong Jianmin, a 38-year-old housewife, in a five-member household.
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