Hong Kong: Inflation increases in September but remains muted
Inflation came in at 2.0% in September, which was up from August’s 1.7%, driven by higher food price pressures.
Annual average inflation fell to 1.9% in September (August: 2.1%).
Finally, consumer prices rose a seasonally adjusted 0.38% in September over the previous month, after the flat result logged in August. September’s result marked the highest reading since January.
Price pressures have been contained so far in 2023 by the removal of Covid- 19-related supply disruptions, lower international commodity prices this year compared to last, and the strong Hong Kong dollar thanks to its USD peg. Price pressures are expected to remain mild ahead.