Hong Kong inflation rate holds steady at 9-month lowChristian Fernsby ▼ |
Asia Upward pressure came from food
The annual inflation rate in Hong Kong came in at 2.1$ in March 2019, unchanged from the previous month's nine-month low and above market expectations of 1.6$.
On the other hand, declines were seen in prices of electricity, gas and water (-5.4$ vs -4.7$) and durable goods (-2.4$ vs -1.7$).
Underlying consumer inflation, which excludes the effects of one-off government relief measures such as tax cuts for lower income individuals; extra allowance for the elderly, child & disabled people; students' grants slowed to 2.4$ in March from 2.6$ in the previous month.
"Looking ahead, inflation will likely stay moderate in the near term. The consolidation of fresh-letting residential rentals earlier on should continue to have a mitigating effect in the period ahead.
External price pressures have also shown some easing recently. The Government will continue to monitor the situation closely, particularly the impact on the lower-income people.", a Government spokesman said. ■
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