HK inflation projected at 1.8pc to 1.6 percent

Local | 11 Aug 2017 6:49 pm

Consumer prices in Hong Kong will likely be contained in the near term, the Government said today.

Global inflation is likely to stay modest and increases in local costs should continue to be moderate, the deputy government economist, Andrew Au, said today.

Considering that the actual inflation so far this year has been somewhat lower than expected, the forecast rates of underlying and headline consumer price inflation for the year, at 2 percent and 1.8 percent respectively in May, were revised slightly downwards to 1.8 percent and 1.6 percent respectively.

Consumer price inflation was moderate in the second quarter.

Excluding the effects of the Government's one-off relief measures to reflect the underlying inflation trend, underlying consumer price inflation was 2 percent in the second quarter, up from 1.4 percent in the first quarter.

Headline consumer price inflation also gained to 2 percent from 0.5 percent. Headline consumer price inflation showed a larger uptick in the second quarter, as the dampening effect of the rates concession on the headline rate in the first quarter largely dissipated, econmist Au explained.

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