HK CPI rises in 3.9% in August vs 4% in July

    Hong Kong's overall consumer prices rose 3.9% in August over the same month a year earlier, slightly smaller than the corresponding increase of 4% in July, data from the Census and Statistics Department showed.
  Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in August 2014 was 3.2%, also slightly smaller than July's 3.3%, mainly due to the enlarged decreases in the charges for package tours.
  A Government spokesman said that inflationary pressures stayed on an easing trend, with the underlying Composite CPI showing a slightly slower year-on-year increase in August, reflecting the receding rental cost pressures and the modest rise in import prices.
  The spokesman commented further that, looking ahead, the relatively mild imported inflation alongside the generally moderate local price pressures should help keep underlying inflation contained in the rest of the year. Nevertheless, headline inflation will likely pick up temporarily in September 2014 on a year-on-year comparison, as the Government's payment of public housing rentals in September last year created a low base of comparison.