Hong Kong’s inflation eased for a third straight month in September to its lowest level in more than three years, data from the Census and Statistics Department revealed Thursday.
The consumer price index rose 2 year-on-year following 2.4 percent increase in August. Economists had expected a modest easing in the figure to 2.3 percent.
The latest inflation figure is the lowest since July 2012, when it was 1.6 percent.
Excluding the effects of all government’s one-off relief measures, core inflation slowed to 2.1 percent in September from August’s 2.6 percent.
The statistical agency attributed the easing in the underlying inflation mainly to the effect of upward adjustment in public housing rentals by the Housing Authority in September 2014 fading out in the same month this year. Further, the agency said the special fuel rebate in electricity starting from mid-August was in effect throughout September.
The lower food inflation also contributed to the easing trend, a government spokesman said. Looking ahead, inflation is expected to remain contained in the near term given the soft import prices and moderate local cost pressures.
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