Coronavirus: 4.2 per cent rise in food prices at Hong Kong supermarkets amid fifth wave surge and panic buying
- Consumer Council tracks cost of 90 grocery items across 11 categories at three major supermarket chains
- Food items with longer shelf lives saw the highest price jumps, while the cost of rice rose 9.2 per cent and eggs went up 8.2 per cent
Prices in supermarkets rose 4.2 per cent from January to March, coinciding with a rash of panic buying fuelled by fears of a lockdown as Hong Kong’s fifth wave of coronavirus infections gathered steam, according to the city’s consumer watchdog.
The Consumer Council used its “Online Price Watch” tool to collect and track the cost of 90 grocery items in 11 categories at three local supermarkets – Aeon, ParknShop and Marketplace by Jasons.
All 11 product groups tracked by the watchdog recorded an increase in prices, ranging from 0.2 per cent to 24.8 per cent at the height of the fifth wave in March.
Food items with longer shelf lives saw the highest price jumps, including pre-packaged cakes, which rose 24.8 per cent. The cost of rice climbed 9.2 per cent, eggs went up 8.2 per cent, and canned vegetables and soup rose by 6.8 per cent.
“During Hong Kong’s fifth wave … panic buying re-emerged across supermarkets, causing the price of certain items to swell,” said Dr Lui Wing-cheong, vice-chairman of the Consumer Council’s research and testing committee.
At a press conference on Wednesday, council chief executive Gilly Wong Fung-han said the price surges were to be expected given the unforeseen nature of the fifth wave.
