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Financial News: Hong Kong Consumer Prices Fall For Third Month

Hong Kong Consumer Prices Fall For Third Month

10/22/2020 - 05:54:00 (RTTNews)

(RTTNews) - Hong Kong's consumer prices declined for the third consecutive month in September, data from the Census and Statistics Department showed Thursday.

The composite consumer price index fell 2.2 percent year-on-year in September, following a 0.4 percent drop in August.

The annual decline was mainly due to the exemption of public housing rents by the Hong Kong Housing Authority in September.

Excluding the effects of all government one-off relief measures, the composite consumer price index advanced 0.5 percent annually versus a 0.1 percent rise in August.

Looking ahead, under the threat of Covid-19, global and local economic conditions are still weak, and overall inflationary pressures should remain mild for the rest of this year, government spokesman said. The government will continue to monitor the situation closely.

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