HK inflation eases to 1% in July

Declines were seen in clothing and footwear, durable goods, and basic food.

Consumer prices in July rose by 1% year on year (YoY), slowing from the 1.4% registered in June,  according to the Census & Statistics Department.

Excluding the effects of the government's one-off relief measures, the underlying inflation rate was unchanged at 1%.

Prices increased in several categories compared to last year, including housing, alcoholic beverages and tobacco, transportation, dining out and takeaway meals, utilities, miscellaneous goods, and services.

Declines were seen in clothing and footwear, durable goods, and basic food.

The government noted that overall inflation remained modest in July, with cost pressures largely stable, and said it expects inflation to stay subdued in the near term.