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Financial News: Hong Kong Inflation Steady At 2.4% In July

Hong Kong Inflation Steady At 2.4% In July

08/21/2018 - 04:59:00 (RTTNews)

(RTTNews) - Hong Kong's consumer price inflation was stable in July, after accelerating in the previous two months, data from the Census and Statistics Department showed on Tuesday.

The consumer price index rose 2.4 percent year-on-year in July, same as in June. The figure was in line with economists' expectations.

Excluding one-off effects, the underlying inflation was also unchanged in July, at 2.7 percent.

"In view of the edging up of global inflation and continued feed-through of earlier rises in fresh-letting residential rentals, local underlying consumer price inflation in the months ahead may remain somewhat higher than in the first half of 2018, when it averaged 2.4 percent," a government spokesman said.

"Yet, inflation should stay within a moderate range for 2018 as a whole."

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