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Financial News: Hong Kong Inflation Accelerates In June

Hong Kong Inflation Accelerates In June

07/22/2019 - 05:49:00 (RTTNews)

(RTTNews) - Hong Kong's consumer price inflation rose in June after easing in the previous month, data from the Census and Statistics Department showed on Monday.

The consumer price index rose 3.3 percent year-on-year in June, after a 2.8 percent increase in May. Economists had expected a 2.4 percent rise. In April, inflation was 2.9 percent.

Netting out the effects of the government's one-off relief measures, inflation climbed to 3.2 percent in June from 2.8 percent in the previous month.

"Overall price pressures should remain largely contained in view of the earlier easing in fresh-letting residential rentals and modest global inflation, the inflation rate in the near term may hinge on the supply situation and thus prices of fresh pork," a government spokesman said.

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