Hong Kong's consumer price inflation eased in September after accelerating sharply in the previous month, data from the Census and Statistics Department showed Thursday.
The consumer price index rose 2.7 percent year-over-year in September, slower than August's 4.3 percent climb, which was the strongest rate of inflation in seventeen months.
The underlying inflation, which excludes one-off relief measures of the government, accelerated to 2.3 percent in September from 2.1 percent in the preceding month. This was mainly due to the upward adjustment in public housing rentals.
Utility costs grew 10.3 percent annually in September and transport charges went up by 1.7 percent. At the same time, prices of durable goods fell 5.4 percent and those of clothing and footwear dropped by 3.6 percent.
"Looking ahead, inflation risks should remain contained in the near term, given the subdued global inflation as well as moderate local cost pressures," a government spokesman said.
"The Government will continue to monitor the inflation developments closely, particularly its impact on the lower-income people."
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