Crunch!

One of the first things I noticed upon arriving in HKG is the inflation. During my trip to Singapore last April, Jo and her friends were talking about how inflation was making everything a bit more expensive there. Back then, the prices here were at a standstill. But not anymore.

It looks like the economic crunch is now being heard here. The MX meal that I usually bought for HK$23.50 is now HK$29.50 and my old HK$18 breakfast is now HK$21. The HK$7 bottle of water is now HK$9.80, and even my favorite Mango Sago drink is up by a dollar.

A day before I arrived, two big HKG retailers declared bankruptcy and closed shop. Among them was U-right - a clothes retailer similar to Giordano and Bossini, and a favorite pasalubong source of Pinoys. Today, I read on the news that 2 more big retailers are closing down, including an iconic electronic appliance store along Nathan Road.

I haven't been to McDonald's, so I don't know if they raised their prices yet. They say that the cost of a Big Mac meal is a good gauge of how expensive a country is. If the Big Mac here becomes more expensive than it already is, shopping and dining here might start to get unappetizing.