Nov 24, 2015 (China Knowledge) – Hong Kong's Composite Consumer Price Index (CPI) increased 2.4% year on year in Oct of 2015, according to figures released by the Hong Kong's Census and Statistics Department.
Excluding the effects of the government's once-off relief measures, the city's underlying inflation rate increased 0.2 percentage points to 2.3% in Oct from the previous month.
Prices of food and housing in Hong Kong climbed 4.2% and 4.0% year on year in Oct, respectively. Meanwhile, there was a year on year increase of 4.1% in the price index of meals bought away from home, a 1.3% increase in miscellaneous services and a 0.9% increase in miscellaneous goods.
The price index of durable goods fell 5.8% year on year in Oct, and that of clothing and footwear shed 1.2% year on year.
In the first ten months of this year, Hong Kong's composite CPI rose by 3.2% over a year earlier.
Consumer price inflation eased in Oct, mainly because the impact of the special fuel rebate in electricity gradually subsided throughout October. In the near term, inflation should still be controlled due to the peripheral price pressure decline and moderate local economic growth.
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