The proportion of Chinese citizens satisfied with price levels has sunk to an 11-year low despite government efforts to rein in prices, the central bank said on December 15.

The residents' price satisfaction index fell to 13.8 percent—the lowest since the fourth quarter of 1999, when the quarterly survey began—according to a statement published on the central bank's website.

The central bank conducted the 20,000-respondent survey during the fourth quarter in 50 cities across China.

Some 73.9 percent of respondents said current prices are "too high," up 15.6 percentage points from the third quarter, while 61.4 percent said they expect prices to continue to rise into the next quarter.