ECONOMY | Staff Reporter, Hong Kong

Inflation slows to 2.6% in November

The increase in food prices hit 3.5%.

The increase in the prices of goods and services slowed marginally to 2.6% in November from 2.7% in October, according to the Census & Statistics department.

Also read: One in five are living in poverty in Hong Kong

Inflation levels for electricity, gas and water outpaced the monthly average after hitting 4% in November. Similarly, the increase in food prices also eclipsed headline levels at 3.5%.

Inflation levels for housing, alcoholic drinks and tobacco, transport and miscellaneous goods also rose by 3%, 1.9%, 1.6% and 1.4% respectively.

On the other hand, the prices of durable goods and clothing and footwear fell 1.8% and 0.2% in November.

“In the coming months, the underlying inflation rate will likely hover near the current level, as the earlier rises in fresh-letting residential rentals continue to feed through,” a government spokesperson said in a statement.

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