HONG KONG (dpa-AFX) - Hong Kong's consumer price inflation eased and moderated further in July to the lowest level in almost four years, data released by the Census and Statistics Department showed on Thursday.
The consumer price index, or CPI, climbed 1.0 percent year-over-year in July, slower than the 1.4 percent rise in June. Economists had expected inflation to ease to 0.8 percent.
Moreover, this was the lowest inflation rate since June 2021, when prices had rose 0.7 percent.
Inflation based on housing inflation eased to 1.8 percent from 2.8 percent. The annual price growth in transport eased to 1.4 percent from 1.9 percent. Meanwhile, food inflation rose slightly to 0.8 percent from 0.7 percent.
Netting out the effects of all the government's one-off relief measures, the underlying inflation in July was 1.0 percent.
On a seasonally adjusted basis, the average monthly rate of change in the the 3-month period ending July was 0.2 percent.
'Looking ahead, as pressures from domestic costs and external prices stay broadly in check, overall inflation should remain modest in the near term,' a government spokesman said.
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