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James Hong

Friday, May 17, 2013

Xiao Long Bao Inflation Index update

In 2006 and 2010, I logged the price of 16 "xiao long bao" (soup) dumplings at the restaurant Nanxiang, located in Shanghai. (This restaurant was the inventor of the tasty treat)

If you recall from my previous post about this, prices were:

1997: 4 RMB
2006: 8 RMB
2010: 12 RMB

This represented an annualized inflation rate of 8% from 1997 to 2006, and an inflation rate of 10.67% from 2006 to 2010.

I am (un)happy to report that the price in 2013 is now 20 RMB. From 2010 to 2013, this would represent an annual inflation rate of 18.67%

I mean this in the most unsarcastic way possible: Wow.