Hong Kong: Inflation falls in September
October 20, 2016
Inflation came in at 2.7% in September, which was markedly below August’s 4.3%—the largest reading in 17 months. September’s figure was largely the result of higher prices for food products and housing being partially offset by a decline in prices for durable goods and apparel. A government spokesman suggested that, looking ahead, “inflation risks should remain contained in the near term, given the subdued global inflation as well as moderate local cost pressures.”
For the three-month period from July to September, the average of the month-on-month variations in consumer prices came in at 0.3% in seasonally-adjusted terms, which was above the 0.1% increase recorded in the three months up to August. Meanwhile, annual average inflation was 2.7% in September, which was slightly above August’s 2.6% reading.
Author: David Ampudia, Economist