For many people in China, headline inflation of 2% is just a cruel joke
Living costs are surging in larger cities, especially when housing is included, but stable in small towns
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Beijing
PROJECT manager Yuan Fang says that she's cutting spending and working overtime after a 20 per cent surge in the cost of both her Beijing room rent and her favourite Japanese lunch boxes. Civil servant Neo Zhu, who bought an apartment in the eastern city of Hangzhou 10 years ago, feels costs of everything from gas to food are stable.
Ms Yuan is putting her savings into gold to protect them from inflation. Mr Zhu is confident his extra cash will be protected in a fixed-income fund.
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