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City sees steady rise in prices
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AFTER over two years of negative growth in commodity prices, SZ saw a stable price increase last year, along with the city's overall steady and healthy economic growth.
According to the data released by Shenzhen Municipal Statistics and Information Bureau on Monday, SZ residents' cost of living rose by 2.8 per cent in 2000 compared to 1999, while the retail price edged up by 0.6 per cent over the year before. For the whole year of 2000, the prices rose in a fluctuating manner, with the highest point in May. The first five months witnessed continuous rise while prices showed a downward trend in the second half of last year.
Prices increases occurred mainly in five categories of commodities: clothing, health and medical products, housing, services and food. Services rose 14 per cent, while housing saw a 5.6 per cent increase of price. Influenced by fluctuating international fuel prices, the fuel prices in the city were raised several times within the year, contributing to the rising consumption prices.
However, prices slumped in three consumption items in the year 2000. They are home appliance, transport and telecommunication, and recreation, education and culture products. But they accounted for only 20 per cent of the residents' expense. While the five categories of commodities that saw price jump-up made up 80 per cent of all the expenses of the citizens.
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