Hong Kong Inflation Rises To 1.2%

(RTTNews) - Hong Kong's consumer price inflation increased slightly in October to the highest level in four months, data released by the Census and Statistics Department showed on Thursday.

The consumer price index, or CPI, climbed 1.2 percent year-over-year in October, following a 1.1 percent stable increase in September.

Inflation based on transportation accelerated to 3.1 percent from 2.2 percent, and the annual price growth in food rose to 0.9 percent from 0.8 percent. Housing costs were 1.6 percent higher, while clothing and footwear prices were 4.7 percent less expensive.

Netting out the effects of all the government's one-off relief measures, the underlying inflation was 1.0 percent in October, the same as in September.

On a seasonally adjusted basis, the average monthly rate of change in the 3-month period ending in October was 0.1 percent.

"Looking ahead, overall inflation should stay muted in the near term, as domestic cost pressures are mild and external price pressures are subdued," a government spokesman said.