Hong Kong’s consumer price inflation held steady in November, defying economists’ expectations for an ease, figures from the Census and Statistics Department showed Monday.
The consumer price index rose 2.4 percent year-over-year in November, the same rate of increase as in the previous month. Economists had forecast the inflation to slow slightly to 2.3 percent.
Excluding the effects of all government’s one-off relief measures, core inflation picked up to 2.4 percent in November from 2.3 percent in October.
This was mainly due to dissipation of the effect of a special fuel rebate in electricity, the agency said.
Housing costs grew 3.9 percent in November from a year ago. Food prices, excluding meals bought away from home went up 3.7 percent and utility costs climbed by 0.8 percent.
“Looking ahead, inflation should remain contained in the near term given the soft import prices and moderate local cost pressures,” a government spokesman said.
“The Government will continue to monitor the inflation developments closely, particularly its impact on the lower-income people.”
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