Wang Chunxia, a retiree in China, has started shopping for the big Lunar New Year feast for her family of five, and she’s worried at just how much she’ll need to fork out for even the basics like meat and veg.

“Prices of vegetables, pork, fish and shrimps are all rising,” said Wang, who lives in the city of Baoji in the northern province of Shaanxi. Spending on this year’s celebrations could set her back more than 1,000 yuan ($155), double last year’s amount and close to what she gets as a monthly pension, she said...

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