Friday, October 31, 2014   

HK price level rises faster in July
(08-21 18:18)

Hong Kong price level rose 4 percent in July from a year ago, faster than the growth of 3.6 percent recorded in June, the statistic department said today. It was mainly because some households had exhausted the full amount of the government's one-off electricity charge subsidy.
On the other hand, underlying inflation was up 3.3 percent year on year, marginally slower than the 3.4-percent expansion in June, mainly due to smaller increases in private housing rentals and the charges for package tours.
Amongst the various CPI components in July, prices for electricity, gas and water rose 30.1 percent, followed by alcoholic drinks and tobacco 7.8 percent, housing 4.4 percent, food 3.6 percent and miscellaneous goods 2.9 percent.
Prices for durable goods fell 3.5 percent from a year earlier.
A government spokesman said underlying inflation continued an easing trend in July, largely thanks to the slower year-on-year increases in private housing rentals and the modest rises in import prices.
"The underlying inflation should remain contained for the rest of the year, given the generally modest price pressures both locally and externally,'' he said.   
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