HONG KONG – Overall consumer prices in Hong Kong rose 2.5 percent year-on-year in August, the same as that in July, the Census and Statistics Department announced on Friday.
Netting out the effects of one-off relief measures taken by the government of the special administrative region, underlying inflation was 1.2 percent, which also remained unchanged from July, the department said in a statement.
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Compared with August last year, price increases were marked in alcoholic drinks and tobacco; electricity, gas and water; housing; transport; meals out and takeaway food; miscellaneous services; miscellaneous goods; and basic food categories.
Meanwhile, year-on-year decreases were recorded for clothing and footwear, and durable goods.
A government spokesman said overall inflation should stay mild in the near term.
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“Domestic cost may face some moderate upward pressures as the Hong Kong economy continues to grow. External price pressures should moderate further in broad terms, though geopolitical tensions may pose uncertainties,” reads the statement.