Intellasia East Asia News – Prices up again in HK

Hong Kong’s consumer price index rose by 1.9 percent last month, the same as in July, while officials expected overall inflation to remain moderate in the short term.

Census and Statistics Department data also showed that the average monthly rate for the adjusted CPI from June to August was 0.2 percent, the same as the previous three-month period.

Hongkongers needed to spend 15.2 percent more last month on electricity, gas and water than a year ago, the biggest rise among the components of the inflation index. Expenses for clothing and footwear followed with a 5.9 percent jump.

While basic food contributed a 4.7 percent rise in costs, meals out and takeaways cost 3.3 percent more than a year ago.

Housing reported the only decrease, 0.3 percent lower.

A government spokesman said external price pressures are expected to remain notable for some time amid elevated inflation in some major import sources. Yet, overall inflation should stay moderate in the near term as domestic cost pressures should continue to be mild, he said


Category: Hong Kong

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