They say that Hong Kong is the canary bird of China. Coalminers traditionally brought canary birds with them into coal mines, and if the bird died of noxious fumes, then they’d know that they needed to get out ASAP, because birds are more sensitive to these fumes than humans. Similarly, if China is going to be hit with high inflation, Hong Kong will likely be most susceptible to it.
There’s been a lot of talk about hyperinflation in Hong Kong. I’ve never noticed it until recently, when some of my consumption staples suddenly rose in price!
- Default lunch of choice: bbq pork rice noodles from Canteen went up from $33 to $36 (+9.1%)
- Favourite tea time snack: raison scones from the Mandarin Oriental rose from $15 to $18 (+20%)
- Weekend guilty pleasure: Sift cupcakes increased from $22 to $25 (+13.64%)
It is just a few dollars, but when you think of it in percentage terms, my standard of living has increased in a mere few months by an average of +14.2%, while my salary has remained the same! Maybe I do need to consider joining the July 1st protests next year to vent my outrage!