In Focus
ECONOMY | Staff Reporter, Hong Kong

Inflation feared to reach 8% in August

With inflation accelerating to the fastest pace since 1995, an economist forecasts inflation to average 7.8 percent in the second half of 2011.

“Banny Lam, an economist at CCB International Securities in Hong Kong, forecasts inflation may reach 8 percent in August and will average 7.8 percent in the second half," said a Bloomberg report.

It added that the benchmark Hang Seng Index of shares has lost more than 14 percent this year.

Consumer prices rose 7.9 percent in July from a year earlier, compared with 5.6 percent in June.

View the report here.

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