HONG KONG: Hong Kong’s consumer price inflation slowed for a fourth straight month in June to its lowest level since the start of the year, data from the Census and Statistics Department showed Thursday.
The consumer price index rose 2.4 percent year-on-year following 2.6 percent increase in May. The figure equaled the rate in December last year and was the lowest since November, when it was 2.3 percent, The underlying inflation, which excludes one-off relief measures of the government, eased to 2.1 percent from 2.2 percent. The rate was the lowest since October last year.
A government spokesman attributed the latest easing in consumer price inflation, mainly to the abating price increases in the food and private housing rental components. Price pressures in many other major CPI components were also modest. “Looking ahead, upside risks to inflation should remain contained in the near term, given the soft import prices and the continued feed-through of the earlier softening in local fresh-letting residential rentals, the spokesman said.
