Hong Kong: Inflation slows in July from the prior month
Latest reading: Consumer prices rose 1.7% in annual terms in July, following a 1.9% increase in the previous month.
Relative to the prior month’s figures, there were milder price pressures for transportation (+5.0% in annual terms vs +5.3% in June) and housing (+0.1% vs +1.1% in June). In contrast, there were higher price pressures for food and non-alcoholic beverages (+0.5% vs +0.4% in June) and electricity, gas and water (+10.8% vs +9.2% in June). Finally, the change in clothing and footwear prices was the same as in the prior month (+0.7% in July and June).
Finally, consumer prices increased 0.27% in July in month-on-month terms, following a flat reading in the prior month.