Hong Kong's CPI edges up 3.9% in August

Due to decreases in package tour charges.

Hong Kong CPI climbed 3.9% YoY in August 2014, lower than 4.0% YoY in July.

According to a research note from CCB International, the YoY increase in August was mainly due to larger decreases in charges for package tours.

Meanwhile, netting out the effects of the government's one-off relief measures, Hong Kong’s underlying inflation rate in August 2014 was 3.2%, lower than the 3.3% posted in July.

Here's more from CCB International:

In August 2014 Hong Kong's total exports and imports of goods both record positive YoY growth of 6.4% and 3.4%, respectively, resulting in a trade deficit of US$31.5b.

Export growth in August was driven by improved performance in most major markets.

Total exports to Asia as a whole grew 5.8% YoY, while exports to mainland China increased 3.9% YoY.

Apart from

Asia, increases were also seen in many western economies, notably the United Kingdom (up 9.4% YoY) and the US (up 5.7% YoY).

Over the same period, imports from major suppliers also rose: Taiwan, Malaysia and Thailand increased 25.9%, 21.6% and 4.4% YoY, respectively.