Hong Kong Inflation Eases In August

Hong Kong Inflation Eases In August

Hong Kong’s consumer price inflation figures from the census and statistics showed slightly relaxed, in August, the Department Thursday.

The consumer-price index rose by 1.9 percent year-over-year in August, slightly below the 2.0 percent increase in July. The measure increases since March.

The underlying inflation, which moderated the one-off relief measures of the government, also by 1.9 per cent compared to 2.0 per cent.

Housing costs rose by 2.8 percent annually in August, and the prices of clothing and footwear increased by 1.6 percent. Meanwhile, prices of durable goods registered a decline of 3.0 percent.

“Looking to the future, which should remain upside risks to inflation, will be limited in the near future, given the low inflation in the major sources of import, and the moderate increases in the local costs,” a government spokesman said.

“The government will continue to monitor the development of inflation closely, particularly its impact on lower income.”

SOURCE

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