Inflation eases 'with price pressures kept in check'
Inflation in Hong Kong eased in July, government figures showed on Thursday, with consumer prices rising by 1.7 percent year on year, compared with a 2 percent increase in June. Officials said the smaller increase was mainly due to rates concession in July this year. Figures released by the Census and Statistics Department also showed that netting out the effects of all government one-off relief…
Hong Kong's inflation rate decelerated in July, with prices increasing by 1.7% year-on-year, according to government data released on Thursday. This marked a slowdown from the 2% rise observed in June. The reduction was primarily attributed to lower rates in July. After accounting for all one-off government relief measures, the underlying inflation rate remained steady at 1.9%.
Fuel-related items continued to experience high inflation, with some items seeing increased rates. However, overall inflation remained moderate as price pressures on other components were largely contained, stated a government spokesperson. Despite ongoing geopolitical tensions in the Middle East, which pose a key source of uncertainty, inflation is expected to stay moderate as price pressures on other fronts are generally under control.
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