HK inflation to surpass 16-year high
Hong Kong’s ‘Scary’ 7.9% Inflation May Fuel Wages Even as Recession Looms. HK inflation to surpass 16-year high
Hong Kong’s inflation surged to the fastest pace since 1995, encouraging workers to press for higher pay even as the economy teeters on the edge of recession.
Hong Kong inflation has hit a 16-year high and economists warned on Tuesday it will worsen in the coming months as runaway housing and food costs besiege the economy.
The consumer price index rose 7.9 percent from a year earlier after a 5.6 percent increase in June, the government reported on its website yesterday.
Food costs in the city jumped 7.4 percent in July from a year earlier as pork prices climbed, yesterday’s data showed.
Private-housing rentals rose 7.6 percent in July.
Jul 2011 Index 106.5%
Vs
Jul 1991 Index 64.1%
This means we need to be earning 66% more than Jul 1991 salaries just to have the same purchasing power!
And bring back 10wks leave please.
So once the period of grace we have given the company is over. Let it Rip boys & Girls! Race you to the Top! Or are you going to join "management" in the race to the bottom, while enjoying some R&R behind "closed cockpit doors".
Come on, lets raise our game, which team are you on?
The New team has been picked today, lets get the new plan into action ASAP.