Coronavirus: Hong Kong shoppers hit by inflation-busting price rises at Wellcome and ParknShop, Consumer Council study finds
- About two-thirds of surveyed products subject to price rises greater than inflation, one product a third more expensive in 2020 than previous year
- Consumer Council urges supermarkets to ‘shoulder more social responsibility’ and take action to relieve the burden on consumers
Canned food, frozen meat and dim sum – among the most sought-after products of the health crisis – recorded some of the biggest price increases, the first category being 20 per cent more expensive and the latter two costing 10 per cent more.
They were among the 147 products, or 65 per cent of the basket, subject to price increases above the rate of inflation.
The largest rise for an individual product reported was 32.7 per cent for Greatwall’s 198-gram luncheon meat, which climbed from HK$10.70 in 2019 to HK$14.20 in 2020.
An increase of more than 13.3 per cent was recorded in the price of pre-packaged cakes, while the aggregate average sum paid for instant noodles was up 8.4 per cent.
Packaged rice was 5 per cent more expensive, logging a higher price for the third consecutive year.
“Consumers’ rising demand for daily necessities was thus reflected in the increasing retail prices at supermarkets last year,” said Dr Victor Lui Wing-cheong, vice-chairman of the council’s research and testing committee.
