Hong Kong experienced stable consumer price inflation in November, maintaining the level reached in October after a reduction to a five-month low the preceding month, according to data released on Friday by the Census and Statistics Department.
The Consumer Price Index (CPI) increased by 1.4% on a year-over-year basis in November, reflecting the same rate as observed in October.
In the housing sector, the annual price growth slightly decreased to 0.9% compared to 1.0% previously. Similarly, transport charges saw a modest reduction in their growth rate, declining from 1.6% to 1.3%. Conversely, inflation in food prices increased marginally from 0.9% to 1.0%.
Excluding the influence of the government's temporary relief efforts, underlying inflation remained stable at 1.2%.
For the three-month period ending in November, the average monthly increase rate was recorded at 0.1%.
A government spokesperson commented, “Looking ahead, we anticipate that overall inflation will remain mild in the near term.”
The spokesperson further noted that while domestic costs could face slight upward pressures as Hong Kong's economy continues to expand, external price pressures are expected to decrease broadly. However, they cautioned that uncertainties in the external environment have grown.
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