As for the starting of the New Year approaches, the Chinese government has raised its gasoline and diesel prices today by less than half. This decision is the 3rd increase during the year, because of the economy wants to contain inflation in a secure area, after inflation rates accelerated to the fastest pace in more than two year as the consumer prices index surged.

According to a statement that released by the Chinese government, it announced that the gasoline prices will climb prices by as much as 4% to reach 310 Yuan (47 American dollars) a metric ton, while the diesel prices will be at 300 Yuan a ton.

On the other hand, higher prices has a negative impact on the households' spending and make it more tougher for the poorest living life to afford basic goods, while food prices surged 11.7% during the month of November from a year earlier, and residence related costs such as charges for water, electricity and rent climbed 5.8%, which was the main reason behind the increase annual CPI that expanded 5.1% last month, from 4.4% a year earlier, which is the most advance during 28 months.