POLITICO Pro: Pay raises are getting smaller. That could be a good thing for workers.
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Slower wage growth could help bring down prices and ultimately mean less sting for the average worker.
  • knfrmity@lemmygrad.mlEnglish
    18·
    16 days ago

    Laughs in Mandarin.

    In May 2026, China’s Consumer Price Index (CPI) increased by 1.2% year on year. Specifically, the price index in urban areas increased by 1.3% while that in rural areas increased by 1.1%; the price index for food decreased by 1.7% while that for non-food increased by 1.9%; the price index for consumer goods increased by 1.6% while that for services increased by 0.8%. From January to May, on average, China’s CPI increased by 1.0%.

    In 2025, the average annual wage of employees in urban non-private units nationwide was 129,441 yuan, up 5,331 yuan over the previous year, representing a nominal growth rate of 4.3% and a real growth rate of 4.2% after adjusting for price factors.

    • cfgaussian@lemmygrad.ml
      20·
      16 days ago

      But don’t you know that China is in a “deflationary spiral” and about to implode any day now?! Wages are outstripping price growth! This is awful! And on top of that, home prices are in free-fall! Real estate has crashed! Don’t you know what that means? Increasingly affordable homes and cheap, abundant consumer goods? This is a catastrophe! (For capitalist profiteers…)

      • 小莱卡@lemmygrad.mlEnglish
        8·
        15 days ago

        This is horrible! People will not buy stuff because it’s going to be cheaper in the future leading to a societal collapse! stuff needs to get more expensive so people go in debt and are forced to buy stuff before it turns even more expensive! Yes, i am an economist 🥸 i know how people behave!

  • amemorablename@lemmygrad.ml
    7·
    15 days ago

    At this point, there doesn’t seem to be much difference between a corporate PR statement and bougie economic “analysis”. In both cases, they will shamelessly lie and say that a bad thing (for you) is actually a good thing somehow. They would rather do this than produce actually good outcomes for people. And in both cases, they rely on the dependency that people have on the existing system, or the exclusivity of a particular product or service, so that people will eat the pain and move on. But there’s that creeping quantitative to qualitative thing. Over time, the problems amass and more and more people reach a breaking point. For a company, this can mean having to change if they don’t want to go bankrupt or be assimilated into another company. For a society, this can mean breakdown and revolt.