地铁票，开始涨价！

Core Viewpoint - The article discusses the rising costs of living in various cities, particularly focusing on public transportation fare increases and utility price hikes, indicating a shift in economic dynamics where traditional funding mechanisms are no longer sustainable [4][7][14]. Group 1: Public Transportation Pricing - Cities like Chongqing, Kunming, and Guangzhou are initiating fare increases for public transportation, signaling a broader trend across urban areas [2][3]. - The financial strain on public transportation systems is evident, with Chongqing's metro receiving a subsidy of 4.35 billion yuan and Beijing 24.85 billion yuan, yet still facing deficits [7]. - The previous model of "land financing" for metro systems is failing as real estate sales decline, forcing cities to rely on fare increases for operational sustainability [8][9]. Group 2: Cost of Living and Inflation - The article highlights that while housing prices have decreased, the cost of living is rising, leading to a perception of financial strain among households [4][5]. - The adjustment of utility prices is linked to government fiscal pressures, as subsidies diminish when land sales decline [14][15]. - The government is signaling a need to address low prices in essential services to prevent deflationary pressures, which could undermine market confidence [16]. Group 3: Economic Implications - Rising prices in essential services like transportation and utilities are expected to impact the Consumer Price Index (CPI) and Producer Price Index (PPI), with potential increases of 0.2-0.4 percentage points for CPI and 0.5-1 percentage points for PPI if utility prices rise by 4%-8% [17]. - The article suggests that the current inflation is not widespread but concentrated in unavoidable expenses, leading to a mismatch between stagnant income growth and rising living costs [19][20]. - The focus of asset allocation is shifting from high returns to stable cash flow assets, as households seek to manage cash flow amidst rising living costs [24][29].