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



Consumer Price Indices for October 2019

 



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November 21, 2019 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the Consumer Price Index (CPI) figures for October 2019.

According to the Composite CPI, overall consumer prices rose by 3.1% in October 2019 over the same month a year earlier, slightly smaller than the corresponding increase (3.2%) in September 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 October 2019 was also 3.1%, slightly smaller than that in September 2019 (3.2%). The smaller increase in October was mainly due to the smaller increases in private housing rentals and prices of fresh fruit.

On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the three-month period ending October 2019 was 0.2%, the same as that for the three-month period ending September 2019. Netting out the effects of all Government's one-off relief measures, the corresponding rates of increase were both 0.2%.

A Government spokesman said that the underlying consumer price inflation rate in October, at 3.1%, was marginally lower than in September. Price pressures on most major CPI components were largely moderate but food inflation remained high due to elevated pork prices.

Looking ahead, modest global inflation and subdued economic conditions should help contain overall inflation. Yet, inflation may stay somewhat elevated in the near term given the supply situation 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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