Published in Hong Kong News on 24.01.2018
Hong Kong News: December inflation up 1.7%
The Census & Statistics Department announced that the overall consumer prices rose 1.7% year-on-year in December.
Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was also 1.7%, slightly higher than the 1.6% rise in November. Year-on-year price increases were recorded for meals bought away from home, housing, food, transport, clothing and footwear as well as miscellaneous goods. Year-on-year decreases were recorded for durable goods as well as alcohol and tobacco.
The department said consumer price inflation remained moderate in December. Inflation averaged 1.7% in 2017, down from 2.3% in 2016, the sixth consecutive year of easing.
Looking ahead, inflation should remain moderate in the near term given the still-modest global inflation and steady rises in local costs, the department added.
Source: HK Gov. News