HK December inflation softens, but food climbs by 13.8pc

Local | 21 Jan 2020 5:19 pm

Hong Kong's consumer prices in December dropped from the month before, to 2.9 percent.

The Composite CPI, which measures overall consumer prices was up by 2.9 percent in December over the same month the previous year, the Census and Statistics Department, reported.

November CPI came in at 3 percent.

The underlying consumer price inflation was steady at 2.9 percent in December.

Food prices increased by 13.8 percent in December, mainly due to higher prices for fresh pork.

The 2.9 percent increase in December was mainly due to the smaller rise in local transport fares as well as the costs for meals bought away from home.

Excluding the effects of all one-off relief measures, the year-on-year rate of increase in the underlying inflation rate in December 2019 was also 2.9 percent, unchanged from November.
For 2019, the underlying consumer price inflation averaged 3 percent.

 

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