Hong Kong's inflation is at the highest it has been in nine years. The consumer price index rose by 3.8 percent in December 2007, mainly due to rising prices of pork, package tours and meals bought away from home.
The CPI in December was greater than the 3.4 percent rise recorded in November. It also beat the median forecast of 3.4 percent among 12 economists polled by Bloomberg.
Due to swelling inflation in China and an ever stronger yuan, the price of imported food from China increased. The prices of pork and beef rose 42.9 percent and 38.8 percent year on-year respectively, the government said.
In other sectors, utilities rose 5.1 percent and clothing and footwear rose 2.4 percent. For the fourth quarter, consumer prices rose a year-on-year 3.5 percent.
From The Standard
2 comments:
Same all over the world it seems. Here, house prices have doubled (yes, doubled) since 2000.
Prices keep going up and up.....
but income stays the same!
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