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Hong Kong Inflation October 2023

Hong Kong: Inflation rises to over one-year high in October

Inflation came in at 2.8% in October, which was up from September’s 2.0%. October’s reading was the highest inflation rate since September 2022, though the uptick was mainly due to changes to the government’s fiscal support measures for housing tenants, which saw housing price pressures rise notably.

The trend pointed up slightly, with annual average inflation coming in at 2.0% in October (September: 1.9%).

Finally, consumer prices rose a seasonally adjusted 1.04% in October over the previous month, picking up from September’s 0.38% increase. October’s uptick was the highest reading since October 2021.

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