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Hong Kong Inflation At 4-month Low

Hong Kong's inflation eased for a second straight month in December to its lowest level in four months, data from the Census and Statistics Department showed on Tuesday.

Consumer prices climbed 2.5 percent year-on-year in December, following a 2.6 percent rise in November. Economists had expected 2.5 percent inflation.

Headline inflation eased in December mainly due to the smaller increases in private housing rentals and the costs for meals bought away from home, the agency said.

Netting out the effects of all government's one-off relief measures, the underlying inflation was steady at 2.9 percent in December.

The average headline inflation for 2018 was 2.4 percent and core inflation was 2.6 percent.

"In the near term, the upside risks to inflation should be contained, as imported inflation has stayed moderate and as pressures on local rentals have weakened somewhat of late", a government spokesman said.

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