Hong Kong: Inflation remains stable in October
November 22, 2012
In October, annual inflation remained unchanged at September's 3.8%. The reading defied market expectations of a 3.6% rate. According to the statistical institute, higher prices for housing and food drove the increase. Annual average inflation, however, eased from 4.6% in September to 4.4% in October, the lowest level since August 2011. A government spokesman noted that lower price pressures will contain inflation for the remainder of the year, but stated that "the volatility of international food and commodity prices amid the global liquidity glut and the renewed pick-up in local housing rentals in recent months may pose some upside risks to inflation further down the road."