Government planning to take measures to fight high inflation.

By bne IntelliNews October 13, 2011
Hong Kong's government is planning to introduce relief measures mainly on the housing and food prices aspects to fight the high inflation in the city. As reported by Xinhua News Agency, the measures include the one-off relief scheme to pay two months' rent for around 700,000 public housing tenants, with an expenditure of about HKD 1.9bn, as the government may face inflation and recession coming one after the other in the coming year. The city is facing enormous inflationary pressure with the income of the grassroots increased. The average inflation rate is expected to reach 5.4% for this year, which is the highest annual rate since 1997.

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