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Financial News: Hong Kong Inflation Eases In August

Hong Kong Inflation Eases In August

09/21/2017 - 05:56:00 (RTTNews)

(RTTNews) - Hong Kong's consumer price inflation eased slightly in August, figures from the Census and Statistics Department showed Thursday.

The consumer price index climbed 1.9 percent year-over-year in August, just below the 2.0 percent increase in July. The measure has been rising since March.

The underlying inflation, which excludes one-off relief measures of the government, also moderated to 1.9 percent from 2.0 percent.

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

"Looking ahead, the upside risks to inflation should remain limited in the near term, considering the low inflation in our major import sources and the moderate rises in local costs," a government spokesman said.

"The Government will continue to monitor the inflation developments closely, particularly its impact on the lower-income people."

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