Financial News: Hong Kong Inflation Steady At 1.4%

Hong Kong Inflation Steady At 1.4%

12/20/2024 - 06:46:00 (RTTNews)

(RTTNews) - Hong Kong's consumer price inflation remained stable in November after easing to a 5-month low in the previous month, data released by the Census and Statistics Department showed on Friday.

The consumer price index, or CPI, climbed 1.4 percent year-over-year in November, the same as in October.

The annual price growth in housing moderated slightly to 0.9 percent from 1.0 percent. Similarly, the rise in transport charges eased to 1.3 percent from 1.6 percent. On the other hand, food price inflation rose to 1.0 percent from 0.9 percent.

Netting out the effects of all the government's one-off relief measures, underlying inflation also held steady at 1.2 percent.

The average monthly rate of increase for the 3-month period ending in November was 0.1 percent.

"Looking ahead, overall inflation should stay mild in the near term," a government spokesman said.

Domestic cost could see some mild upward pressures, as the Hong Kong economy continues to grow, while external price pressures should ease in broad terms, though uncertainties from the external environment increased, the spokesperson added.

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