Hong Kong Business News

Overall consumer prices rose 1.4% year-on-year in October, a smaller rate of increase than the 2.2% seen in September, the Census & Statistics Department announced today.

Netting out the effects of the Government’s one-off relief measures, underlying inflation was 1.2%, larger than that recorded in September, attributed to the upward adjustment in public housing rentals. 

Compared with October last year, price increases were seen in the following categories: alcoholic drinks and tobacco; electricity, gas and water; miscellaneous services; meals out and takeaway food; miscellaneous goods; transport; and housing.

Meanwhile, year-on-year decreases were recorded for clothing and footwear; durable goods; and basic food.

The Government said overall inflation should stay mild in the near term and the continued growth of the Hong Kong economy could pose mild upward pressures on domestic costs.

Meanwhile, external price pressures should ease further, though uncertainties in the external environment remain, it added.

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