Food price jumps add to burdens for consumers
The prices of daily necessities in supermarkets rose higher than the inflation rate, according to the Consumer Council, which conducted a tracking survey of 230 products.
It found aggregate average prices had risen 1.9 percent from 2019 to 2020 - higher than the composite consumer price index's by 0.3 percent.
The rise "indicates consumers' burden to expend on staple food continued to increase," said Lui Wing-cheong, the vice-chairman of the watchdog's research and testing committee.
The annual survey tracked prices at supermarket giants ParknShop and Wellcome.
Nearly two thirds of the items, 147, saw increases higher than the inflation rate.
Of the 13 product categories reviewed, canned food saw the highest rise at 19.9 percent. All 18 canned food items tracked showed increases, with meat seeing the highest, at 25.1 percent, fish 15.4 percent and canned vegetables or soup 17.7 percent. Topping the increases was 32.7 percent for Greatwall Chopped Pork and Ham 198 gram, up from HK$10.70 to HK$14.20.
Next highest for the product categories was the "bread, cake, spread" category at 6.4 percent.
Rice saw hikes for the third straight year, with the latest annual figure coming in at 4.7 percent.
Of the nine rice products tracked, increases for two Golden Elephant Premium Jasmine Rice items were "alarming." The price of an eight-kilogram pack rose 9.1 percent from an aggregate average of HK$96 to HK$104.70, while the 5kg bag shot up 12 percent from an average of HK$65.90 to HK$73.80.
On the other hand, prices fell in four product categories: milk powder or infant diapers; instant beverage premix; tissues, household cleaning products, pet foods; and personal care products.
"The council calls on supermarket groups to shoulder more social responsibility and tide over the difficult times together by trying to avoid increasing prices of staple foods and daily necessities," Lui said.
The survey was released within a week after Wellcome announced that it would lock prices on a range of over 350 products for another six months, from April to September, without revealing how many of them are from its own brand. The "Low Prices Locked" campaign was started in October and was supposed to end last month.
"Wellcome is always committed to serving customers with great prices and quality products," a spokesman said. "Under the [Low Prices Locked] campaign, we shoulder any increases in transportation costs, increases in raw material, and any other cost pressures."
For its part, ParknShop said its internal survey found the price increases to be smaller than those the council indicated.
One picture is worth a thousand words: dozens of Hamas rockets in front of dozens of Iron Dome missiles in the night sky
Digital pounds, dollars and euros are years away, but radical changes in wholesale banking and settlement are coming sooner than you think.
The Republican State Leadership Committee in the US has been ridiculed by Brits after insinuating that the “Queen of England” supports...
Britain on Wednesday hit out at countries including Russia, China, Iran and North Korea over cyberattacks, calling for a global effort to counter online threats.
The remarks comes in the wake of Harry and Meghan's television interview with Oprah Winfrey, in which they raised allegations...
Chief Executive Carrie Lam Cheng Yuet-ngor and two high ranking government officials received letters containing suspicious powder, according to sources.
Computer scientist demands 16 software developers give access to 111,000 bitcoins in case one defendant has called ‘bogus’
The UK economy is coming out of its deep freeze.
No rush of restaurants switching to new rules allowing six diners per table, service until midnight.
Elon Musk’s decision to stop Tesla from accepting bitcoin as payment has led to fresh scrutiny of the cryptocurrency’s environmental impact.
"Personally i’ll still be wearing a mask in public until further notice because being freely ugly in peace is something i’m not willing to give up.
Messaging app will begin to turn off features until users agree to Facebook’s updated terms of service
Alyn Smith may not be a big name on the world stage, but the Scottish MP has made waves after he called the Israeli Embassy, in...
"Through android and the app store Google Play, Google has a dominant position which allows it to control the reach app developers...
VOTING IN MAINLAND Britain is astonishingly easy. You turn up at a polling station and state your name and address. An official...
Chinese University says unvaccinated residents in its dormitories must undergo coronavirus screening every two weeks and pay for them.
The government has invoked an ordinance seen as its ultimate weapon to forcibly resume three plots totaling 1.2 hectares in Yuen Long and Fan Ling to offer 1,600 flats.
Alibaba posted its first operating loss as a public company in its fiscal fourth quarter as a massive antitrust fine it received...
Former British Prime Minister David Cameron has admitted he had shares in a now-collapsed financial firm that he secretly tried...
Philippine consul general questions logic of employers living in the same home not facing the same compulsory screening requirement.
A fully inoculated father and son who returned from the United States on May 1 are annoyed as authorities refused to reduce their...
THE EU has admitted that Britain is set to recover from the Covid pandemic much faster than itself, and praised its former member...
Amazon is hiring 75,000 workers across its warehouse and delivery network in the U.S. and Canada, the company said Thursday. The...
Bank of England Governor Andrew Bailey said there might be a role for a state-backed digital currency in Britain although there...