In modern China, 涨价 (zhǎngjià) is more than just an economic term; it's a constant topic of daily conversation and a source of collective anxiety. China's rapid economic development has lifted millions out of poverty, but it has also led to significant increases in the cost of living, especially in major cities. Therefore, discussing what has 涨价 recently—be it pork, housing, or gasoline—is a common way for people to connect over shared societal pressures. To an English speaker, 涨价 feels like a blend of “price hike” and the effects of “inflation.”
涨价 is used across all levels of formality, but its connotation changes with the context.