Consumer Price Spot Check

So the Hutong Secretary went to Jingkelong in Tianzhu to buy some eggs this morning. A five-dozen egg bulk pack set us back RMB 66, or around $10.02. The same eggs, USDA inspected, would have cost us RMB 65 at Vons in California, delivered to our home.

Not a big deal, but an interesting anecdotal indicator.

Mike

Shipped to California or shipped from there to Beijing for 65 RMB inclusive?
Either way, is this an indicator that the RMB isn’t quite as undervalued as some punters say, or are Beijing eggs just overvalued?

David Wolf

Vons eggs delivered to my home in CA for US$9.89, vs. having to drive from my Beijing home to JingKeLong for $10.02.

I think it is more proof of Huang Yasheng’s contention that the government is pursuing policies that favor enterprise but have the dangerous side effect of shafting consumers.

And Hu is going to leave that little seed of a “harmonious society” right on Xi’s plate.