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[Financial crisis ; Inflation] (16 Sep 2008)

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INFLATION IN HONG KONG WAS 6.3% IN JULY, YEAR ON YEAR. BUT WITH DOUBLE DIGIT INCREASES IN COSTS FOR FOOD, OIL AND RENT, IS 6.3% A REALISTIC FIGURE? MONEY MAGAZINE LOOKS AT WHAT GOES INTO THE CONSUMER PRICE INDEX FIGURES, AND SPEAKS TO PEOPLE WHO SAY THEIR EXPENSES HAVE GONE UP A LOT MORE THAN 6.3%.THE PRICE OF OIL HAS GONE UP FROM BELOW US$80 A BARREL IN 2007, TO ABOVE US$100 NOW, AFTER TOUCHING A HIGH OF MORE THAN $147 LAST MONTH. THE HIGH PRICE IS HURTING THE GLOBAL AUTO MANUFACTURING INDUSTRY. IN HONG KONG, SALES HAVE ACTUALLY GONE UP, BUT REPORTER MICHAEL WONG FINDS THAT PEOPLE ARE CHOOSING SMALLER CYLINDER-ENGINE CARS OVER GAS GUZZLING ONES.

Program: 
Money Magazine
Publish Date: 
Tuesday, September 16, 2008
Station: 
TVB
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