Hong Kong Inflation Remains Stable At 1.1%

(RTTNews) - Hong Kong's consumer price inflation held steady in September after rising slightly in the previous month, data released by the Census and Statistics Department showed on Thursday.

The consumer price index, or CPI, climbed 1.1 percent year-over-year in September, the same as in August.

Food prices grew 0.8 percent annually in September, and housing costs were 1.7 percent higher. Transport charges logged an increase of 2.2 percent, while clothing and footwear prices were 3.7 percent less expensive.

Netting out the effects of all the government's one-off relief measures, the underlying inflation in September was 1.0 percent versus 1.0 percent in August.

On a seasonally adjusted basis, the average monthly rate of change in the 3-month period ending in September was 0.3 percent.

"Looking ahead, overall inflation should stay modest in the near term, as domestic cost pressures remain contained and external price pressures are subdued," a government spokesman said.