Hong Kong's overall consumer prices rose 6.6% in September over the same month a year earlier, larger than the corresponding increase of 3.9% in August, the Census and Statistics Department said.
The larger year-on-year rate of change in the Composite CPI in September was mainly due to the low base of comparison resulted from the Government's payment of public housing rentals in September last year. 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 September was 3.3%, slightly larger August's 3.2% rise, mainly due to the upward adjustment in public housing rentals.
A Government spokesman commented that, looking ahead, inflation should remain contained in the near term, given the moderate local cost pressures and modest rise in import prices.
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