Hong Kong's consumer price inflation eased for the third straight month in December at a slower than expected pace, figures from the Census and Statistics Department showed Thursday.
The consumer price index climbed 4.9 percent year-on-year in December, slower than November's 5.1 percent decline. Economists had forecast the inflation to ease to 4.7 percent.
Excluding one-off effects, the core inflation eased slightly to 3.1 percent in December from 3.3 percent in the previous month.
The annual average inflation in 2014 was 4.4 percent. Core inflation for the year was 3.5 percent, down from 4 percent in 2013.
"Inflation eased further in December, mainly reflecting the benign global inflation, with slower year-on-year increases in food prices and enlarged declines in the prices of clothing and footwear, durable goods as well as motor fuel," a government spokesman said.
"Looking ahead, upside risks to inflation should be limited in the near term, as the softening trend in global food and commodity prices should keep external price pressures in check. Moreover, local cost pressures will likely stay moderate."
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