HK CPI rises 2.7% in September versus 4.3% in August

    Hong Kong's overall consumer prices rose 2.7% in September over the same month a year earlier, smaller than the corresponding increase of 4.3% in August, according to the Census and Statistics Department.
  The larger increase in August was attributable to the low base of comparison arising from the Government's payment of public housing rentals in August 2015, and such effect did not come into play in September. 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 2016 was 2.3%, larger than August's 2.1% rise, mainly due to the upward adjustment in public housing rentals.
  A Government spokesman said that inflation pressure stayed moderate in September. The slight pick-up in the underlying inflation rate in September was mainly due to the upward adjustment in public housing rentals. For the third quarter as a whole, underlying inflation eased further from the second quarter. The spokesman commented further that, looking ahead, inflation risks should remain contained in the near term, given the subdued global inflation as well as moderate local cost pressures.