Why is Hong Kong’s inflation so low compared with other global cities?
Hong Kong appears to have averted the worst of the inflation woes dragging down other major global cities.
It is late afternoon near closing time and stall holders at a crowded Sheung Shui market are slashing prices. Single mum and dole recipient Amy Wong, 35, makes a beeline for the bargains to feed her family of three. In her purse is her daily budget of HK$150.
She pops into a butcher’s shop to buy a catty of pork for HK$29, then picks up a packet of buns for HK$25 which will do as breakfast for her children, aged four and nine. She then races to another shop to buy some bananas for HK$20 before getting a small bag of vegetables for HK$23 and then she rushes over to another stall to buy two trays of eggs for HK$40.
“The food costs less than HK$140 but it will be enough for making three meals which is the most important and fundamental thing for our family’s survival,” she said.