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Financial News: Hong Kong Inflation Accelerates In April

Hong Kong Inflation Accelerates In April

05/23/2019 - 06:15:00 (RTTNews)

(RTTNews) - Hong Kong consume price inflation rose in April after remaining steady in the previous month, data from the Census and Statistics Department showed on Thursday.

The consumer price index rose 2.9 percent in April, following a 2.1 percent increase in March and February.

Prices for housing increased 4.3 percent annually in April and those of miscellaneous services and food costs rose by 3.1 percent and 3.0 percent, respectively.

On a month-on-month basis, consumer prices rose 0.4 percent in April, following a 0.2 percent increase in the previous month.

"Looking ahead, inflation will likely stay moderate in the near term. The earlier easing in fresh-letting residential rentals should have a mitigating effect in the coming months," a government spokesman said.

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