It is reported that recently, the Yichang Municipal Price Bureau has issued a report on the overall situation of price in 2012: on the whole, the market price tag on a moderate upward trend through the past year. The full-year CPI reading increased by 2.9 percent year-on-year, matching the figure of Hubei Province, yet 0.3 percent higher than national average.
In the first half of the previous year, CPI growth dropped fairly rapidly from a year-on-year increase of 4.7 percent January to 1.9 percent in July with each month witnessing a more drastic decline than the preceding one. However, it resumed its ascending momentum during the second half. Thus, if rendered graphics, the annual rate of CPI growth would very much resemble to the letter “v”.
Statistics also shows that among the 8 categories of consumer price most closely related to the basic interests of the residents, 7 of them rises whereas 1 falls, among which the escalating price of food most accounts for the ever-increasing market price. In 2012, the growth rate of food price in Yichang was 6 percent which was higher than that of the other 6 categories and the price of main agricultural products also rose significantly among which such products as everyday vegetables, fresh fruits and beef experienced a relatively more rapid gain in price.
According to reporter Pei Shujing and correspondent Tian Yanli, the cost increasing is the main reason for the rising price of various commodities and services. Besides, the ever-increasing social cost and cost of industrial raw materials as well as the labor cost all play a role in the price rising. Hence, last year, while the price of transportation and communication decreased by 1.6 percent, a rather slight drop；the price of alcoholic drinks and tobacco rose 0.8 percent, clothing rose 1.7 percent, household equipment and maintenance services rose 0.7 percent, housing rose 2.1 percent, medical care and personal products rose 2.4 percent and entertainment and educational products and services rose 1.9 percent.