Hong Kong's overall consumer prices rose 4.9% in December 2014 over the same month a year earlier, smaller than the corresponding increase of 5.1% in November 2014, according to the Census and Statistics Department.
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 December 2014 was 3.1%, also smaller than November's 3.3% rise , mainly due to the smaller increases in the costs for meals bought away from home. Also relevant were the enlarged decreases in the prices of motor fuel and the decreases in the prices of fresh vegetables.
A Government spokesman commented that looking ahead, upside risks to inflation should be limited in the near term, as the softening trend in global food and commodity prices should keep external price pressures in check. Moreover, local cost pressures will likely stay moderate.
22/01/2015 16:34
HK CPI rises 4.9% in December versus 5.1% in November
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