Hong Kong Inflation Rate Stable at 3.80 Percent in October


The Census and Statistics Department released on November 22 the Consumer Price Index (CPI) figures for October 2012. According to the Composite CPI, overall consumer prices rose by 3.8 percent in October 2012 over the same month a year earlier, same as that in September 2012.

Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in October 2012 was 3.8 percent, slightly smaller than that in September (3.9 percent), mainly due to the smaller increases in private housing rentals.

On a seasonally adjusted basis, the average monthly rate of change in the Composite CPI for the 3-month period from August to October 2012 was 1.2 percent, and the corresponding rate of change for the 3-month period from July to September 2012 was -0.5 percent. Netting out the effects of all Government's one-off relief measures, the average monthly rate of increase in the Composite CPI for the 3-month period from August to October 2012 was 0.4 percent, and that for the 3-month period from July to September 2012 was 0.3 percent.
 
Amongst the various CPI components, year-on-year increases in prices were recorded in October 2012 for housing (5.3 percent in the Composite CPI); electricity, gas and water (5.0 percent in both the Composite CPI); meals bought away from home (4.9 percent in the Composite CPI); food (excluding meals bought away from home) (3.2 percent in the Composite CPI); miscellaneous services (3.0 percent in the Composite CPI); transport (2.3 percent in the Composite CPI); miscellaneous goods (2.2 percent in the Composite CPI); clothing and footwear (0.6 percent in the Composite CPI) and alcoholic drinks and tobacco (0.6 percent in the Composite CPI).

Census & Statistics Department | Andre Crujo | andre@tradingeconomics.com
12/14/2012 3:53:08 PM