Hong Kong's consumer price inflation eased further in October to the lowest level in nearly seven years, data from the Census and Statistics Department showed Tuesday.
The consumer price index climbed 1.2 percent year-over-year in October, slower than September's 2.7 percent increase.
The latest inflation rate was the weakest since January 2010, when prices had risen 1.0 percent.
The smaller increase in October 2016 was mainly attributable to the continuation of rates concession implemented as from April 2016, while there was no rates concession in October 2015, the agency said.
The underlying inflation, which excludes one-off relief measures of the government, also eased to 2.1 percent in October from 2.3 percent in the preceding month.
Utility costs grew 4.9 percent annually in October and transport charges went up by 2.4 percent. At the the same time, clothing and footwear prices dropped 2.4 percent.
"Looking ahead, inflation pressure should remain moderate in the near term, given muted imported inflation and tame 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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