Consumer prices inch up by 1.4% YoY in October

This marks a slowdown from the 2.2% increase recorded last month.

Consumer prices in Hong Kong rose 1.4% year-on-year in October, marking a slowdown compared to the 2.2% increase recorded in September, the Census & Statistics Department reported.

Excluding government relief measures, the underlying inflation rate for October stood at 1.2%, slightly higher than September’s figure. This uptick was attributed to an upward adjustment in public housing rentals.

Year-on-year price increases were also recorded in categories such as alcoholic drinks and tobacco, utilities, services, food, transport, and housing. Declines were seen in clothing and footwear, durable goods, and basic food.

The government expects overall inflation to remain mild, with domestic costs facing slight upward pressure from economic growth.

It added that external price pressures are easing but remain subject to global uncertainties.