Hong Kong Economic and Trade Office, USA
Hong Kong
News Release



Consumer Price Indices for June 2019

 



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July 22, 2019 - The Census and Statistics Department released today the Consumer Price Index (CPI) figures for June 2019. According to the Composite CPI, overall consumer prices rose by 3.3% in June 2019 over the same month a year earlier, larger than the corresponding increase (2.8%) in May 2019. Netting out the effects of all Government’s one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in June 2019 was 3.2%, larger than that in May 2019 (2.8%), mainly due to the enlarged increases in the prices of pork and the charges for package tours.

On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the three-month period ending June 2019 was 0.5%, and that for the three-month period ending May 2019 was 0.3%. Netting out the effects of all Government's one-off relief measures, the corresponding rates of increase were 0.4% and 0.2%.

A Government spokesman said that the underlying consumer price inflation rate went up to 3.2% in June, driven by the surge in pork prices amid the disruption to the supply of fresh pork. Price pressures on most major CPI components stayed tame.

Looking ahead, while overall price pressures should remain largely contained in view of the earlier easing in fresh-letting residential rentals and modest global inflation, the inflation rate in the near term may hinge on the supply situation and thus prices of fresh pork. The Government will continue to monitor the inflation situation closely, particularly the impact on the lower-income people.

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