Hong Kong's overall consumer prices rose 2.4 percent in November over the same month a year earlier, the same as that in October, Hong Kong's Census and Statistics Department announced on Monday.
Netting out the effects of all government's one-off relief measures, the year-on-year rate of increase in the Composite CPI, i.e. the underlying inflation rate, in November was 2.4 percent, slightly larger than that in October, mainly due to dissipation of the effect of a special fuel rebate in electricity, the C&SD said.
The data showed that on a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the 3-month period from September to November was 1.6 percent, and that for the 3-month period from August to October was 0.6 percent.
Netting out the effects of all government's one-off relief measures, the average monthly rate of increase in the Composite CPI for the 3-month period from September to November was 0.3 percent, and that for the 3-month period from August to October was 0.2 percent.
A government spokesman said that inflation stayed moderate in November. The slight uptick in the year-on-year rate of increase in the underlying Composite CPI was due to dissipation of the effect of a special fuel rebate in electricity. The year-on-year increases in prices of most other CPI components actually eased slightly in November.
Looking ahead, the spokesman said inflation should remain contained in the near term given the soft import prices and moderate local cost pressures.
