Published: 18:03, October 22, 2024
HK inflation stays modest in Sept at 2.2%
By Wang Zhan

Pedestrians wait their turn to cross a road in Central, Hong Kong, on Jan 8, 2024. (GARY CHIU / CHINA DAILY)

Hong Kong's consumer prices rose 2.2 percent in September compared to a year ago, down from 2.5 percent in August, the Census and Statistics Department said Tuesday.

Netting out the effects of the SAR government’s one-off relief measures, September’s underlying inflation rate was 0.9 percent, also smaller than 1.2 percent recorded in August.

Prices of alcoholic drinks and tobacco rose sharply at 21.4 percent last month, followed by electricity, gas and water, which climbed 6.5 percent.

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Housing, miscellaneous services, meals out and takeaway food, miscellaneous goods and transport also saw price increases.   

On the other hand, clothing and footwear costs sawa decrease of 1.6 percent while basic food prices were down 0.4 percent. 

“The year-on-year increase in food price eased, while prices of energy-related items declined at a narrowed rate. Price pressures on other major components remained broadly in check,” a Hong Kong Special Administrative Region government spokesman said.

READ MORE: HK consumer prices fall 2.3% in July

He said overall inflation should stay mild in the near term while the continued growth of the Hong Kong economy could pose some moderate upward pressures on domestic cost.

He added that external price pressures should ease further, though uncertainties in the external environment remain.