Advertisement

Shoppers count the cost of rising inflation

Reading Time:2 minutes
Why you can trust SCMP

Soaring oil prices, the rising yuan and new food-monitoring systems are forcing Hongkongers to reach deeper into their pockets to pay their food bills.

Advertisement

Suppliers of frozen meat products, fresh fish and eggs said the better economy had also helped to boost wholesale prices, as consumers were willing to pay more.

An increase of 2.7 per cent was recorded in the consumer price indexes for food in January, government figures released this week show.

Compared to last January's figures, the price of fresh fruit has gone up about 12 per cent, while eggs are up 11 per cent.

Former Frozen Meat and Seafood Wholesales Retailers Association chairman Cheng Hing said the prices of frozen products had jumped by 20 to 30 per cent.

Advertisement

'The selling price for two pounds of chicken wings used to be HK$10, but now it has gone up to HK$12. Prices for other frozen products have jumped up quite steadily in the past year, and there is no sign prices will go down,' he said.

Rising prices for oil and animal feed were blamed.

loading
Advertisement