Hong Kong's overall consumer prices rose 1.9% in August over the same month a year earlier, slightly smaller than the corresponding increase of 2% in July, according to the Census and Statistics Departmen.
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 2017 was also 1.9%, slightly smaller than July's 2% increase, mainly due to the decreases in inbound and outbound transport fares.
A Government spokesman said that underlying inflation, in terms of the year-on-year rate of change in the underlying Composite CPI, eased slightly to 1.9% in August, reflecting the modest inflationary pressure in the economy. Looking ahead, the upside risks to inflation should remain limited in the near term, considering the low inflation in our major import sources and the moderate rises in local costs.