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'Silver economy' panel set up

The Commerce & Economic Development Bureau today established the Advisory Panel on Silver Economy and convened its first meeting with the aim of initiating research on the development of Hong Kong’s growing elderly population as a consumer segment.    Chairing the panel, Secretary for Commerce & Economic Development Algernon Yau said the elderly demographic was emerging as an important part of the city’s economy.    He highlighted that many products and services designed to enhance the quality of life enjoyed by elderly residents are spurring growth and business opportunities.    Mr Yau added that promoting such products and services can help to foster the development of the so-called silver economy and unleash business potential in the elderly market, whilst also catering to the aspirations and needs of elderly people. He said this would be the advisory panel’s focus.     At today’s meeting, the panel endorsed its terms of reference, reviewed statistics relating to

Inflation at 2.6% in November

Consumer prices increased 2.6% year-on-year in November, a slightly smaller decline than that registered in October, the Census & Statistics Department announced today.

 

Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1.6%, also slightly lower than that seen in October.

 

Compared with November last year, price increases were recorded in the following categories: alcoholic drinks and tobacco; clothing and footwear; meals out and takeaway food; miscellaneous services; housing; miscellaneous goods; transport; and basic food.

 

By contrast, year-on-year price decreases for electricity, gas and water, and durable goods were recorded.

 

The Government said underlying consumer price inflation remained moderate in November.

 

It noted that prices for meals out and takeaway food, and for clothing and footwear, had continued to rise noticeably on those of a year earlier, while price pressures on other major components remained broadly in check.

 

Looking ahead, the Government said overall inflation might stay moderate in the near term and that external price pressures are expected to soften further. It added that domestic business costs could face upward pressures as the economy continues to recover.


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