Consumer prices show another dip

Finance | Avery Chen 22 Jan 2021

Hong Kong's core consumer prices contracted for the sixth straight month, with a deeper deflation of 0.7 percent in December, mainly due to the government's electricity charges subsidy.

That compares to a 0.2 percent decline in November.

Netting out the effects of the government's one-off relief measures, the Composite Consumer Price Index remained flat in December. Prices of meals bought away from home softened last month amid the fourth wave of the pandemic.

Meanwhile, the year-on-year decline in private housing rent widened slightly.

Among the components of the Composite CPI, electricity, gas and water prices slumped 30 percent. Food prices, excluding meals bought away from home, rose by 2.2 percent.

The Composite CPI for 2020 was 0.3 percent higher than that in the preceding year. Inflation averaged 1.3 percent.

Overall price pressure should remain mild in the near term, a government spokesman said.

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