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Financial News: Hong Kong Inflation At 6-Month Low

Hong Kong Inflation At 6-Month Low

12/20/2019 - 06:15:00 (RTTNews)

(RTTNews) - Hong Kong's consumer price inflation eased to the lowest level in six months in November, data from the Census and Statistics Department showed on Friday.

The consumer price index rose 3.0 percent year-on-year in November, slower than 3.1 percent increase in October. Economists had expected the rate to remain at 3.1 percent.

The latest inflation was the lowest since May, when prices rose 2.8 percent.

Excluding the effects of all government's one-off relief measures, core inflation eased to 2.9 percent in November from 3.1 percent in the previous month.

The smaller inflation was mainly due to the decreases in the charges for package tours as well as inbound and outbound transport fares.

"Price pressures on many major CPI components abated somewhat, though food inflation remained visible due to elevated pork prices," a government spokesman said.

"Looking ahead, overall inflation pressures will likely be contained in the near term by mild imported inflation and easing local cost pressures amid sub-par economic conditions."

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