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Hong Kong Inflation Rises In September

Hong Kong's consumer price inflation rose slightly in September, after a sharp decline in the previous month, data released by the Census and Statistics Department showed on Monday.

The overall consumer price index climbed 4.6 percent year-on-year, following a 4.5 percent rise in the previous month. Inflation was driven higher by huge increases in prices of fresh vegetables.

Economists had expected the figure to ease further to 4.4 percent. In July, inflation peaked at 6.9 percent.

In September, underlying inflation slowed to 4.2 percent from 4.3 percent in August. The figure eased mainly as the upward adjustment of public housing rentals by the Housing Authority in September 2012 faded out, the agency said.

Looking ahead, the government expects the subdued imported inflation and the moderated increases in fresh-letting residential rentals since early 2013 to help to contain the upside risks to inflation in the near term.

by RTT Staff Writer

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