Chinese inflation hits in New Year

One of the local fast food restaurants, a place that serves Chinese fast food and has meals that come to about 50-75% of the price of McDonald's or KFC, raised prices on January 1 (a notice has been posted on the door for about a week). Most of the increases range from about 10-30%, some are small amounts, such as a 2.5 yuan item going to 3.0 yuan. However, earlier in 2010 I noticed that they were serving smaller portions (I estimate about 10% smaller) as a method of dealing with inflation. Naturally, the price increases are on top of already reduced portions. I estimate that the average customer is probably paying about 20% more than they were a week ago.

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