High inflation isn’t just limited to the Mainland; Hong Kong is feeling the heat too. From Financial Times :
Hong Kong’s inflation rose to its highest level in ten years last month, pushed by rising food prices and rents.
February’s consumer price index increased 6.3 per cent compared to last year, up from a 4.3 per cent increase recorded in January, and above analysts’ consensus estimates of 4.9 per cent. A number of one-off factors drove inflation higher last month, such as the severe winter weather across most of China that restricted food supply to Hong Kong, which relies on the mainland for much of its nourishment. But economists said the underlying trend for Hong Kong’s inflation is clearly upwards.
