Summary: The fast-rising food prices push Hong Kong inflation rate to 5.3 per cent which is the highest among 10 years. The soaring food price is attributed to the global food inflation. Subjected to the impact of increasing food prices, fuel prices, private housing rents, these kinds of basic supplements in modern society also increase. According to the Associated Professor of Economics and Finance at City University, Dr Charles, the surge will continue in the second quarter.
Comment: In my opinion, the fast-rising food prices has sky-rocketed. Citizens become innocent victims. It is difficult for low income families to cope with the pressure of soaring food prices. Thus, the government should deal with the issue work with professionals and cooperate with mainland China or even different countries to overcome the big hurdle.