The price increase expanded to lots of areas, such as food, edible oil, and clothing, brings negative impact to most residents, especially for young white-collars.
With price increasing of agricultural products, residents in China are getting sensitivity, White-Collars is in particularly. Due to the recent increase of CPI, some residents started to hoard all kinds of items like rice, cooking oil, soy foods, and even natural gas, and clothing. It is not to prevent material shortage, but to reduce economic losses as they expected. Others began to prevent inflation by investing in stock, property and assets, or gold market. A recent survey found that most hoarding people are elderly while the young white-collars are just followers.
After half a month’s travelling, Mr. Chen, a director of an advertising company, was shocked by finding that the dinner room was filled with barrels of oil, bags of rice and other agricultural products once he opened the door. All of them were bought by his mother.
Mr. Chen checked those items, found 5 barrels of edible oil, 6 bags of rice (5kg per one), 20kg soybean, and 5kg green bean. All of those items took half place of the dinner room so that Chens have to have dinner in their living room. According to his mother, “the price of agricultural products rise rapidly in last two weeks, to save money we should buy more before the price rise,” she said.
In fact, the price rising not only took place among agricultural products, but clothing. Zhou Hong, a staff of an IT company, referred that according to news last Tuesday, American planned to reduce the expecting cotton crop this year, which means the price of clothing will rise sooner. It is the right time to hoard more dresses for families, though most people were not willing to do this. They all believed that the earlier to buy the more money to save.
“It is more cost-effective to buy our adults’ clothes than children’s since they grow very fast, and the clothes you bought this year might be unsuitable for them next year.” Zhou Hong said, “My son grows very fast though he was only 11. I bought lots of clothes for him prepared for next year, and particularly chose a few L sizes’ which is large enough for me too.” She felt so glad that she has already saved some money.
Despite of edible oil, rice, and clothing, some other products are also hoarding objects, such as cosmetics, discounted coupons, toilet paper, etc. In order to fight against the inflation, more and more young white-collars began to shop online. They think the average price for online item is lower than local stores’. And now, the clearance sale becomes their favor projection.
Expert refers that it is reasonable for sorts of items’ price rising during inflation. But the inflation won’t last for a long time. And according to the data of National Bureau of Statistics, October’s food price rising is 10% higher than that of September while the average income rising is 11.9% higher in respectively. That is to say, residents should not worry about the inflation too much. And some blind hoarding acts are not acceptable, for it can not save your money but waste it on unnecessary products.
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