The Government Of Hongkong Has Announced That The Basic Inflation Rate Is Still Relatively Moderate.
The Hongkong census and Statistics Department announced in July 22nd that the inflation rate in June was 2.8%, which was greater than 2.5% in May.
Excluding all government one-time bail outs and other factors, the basic inflation rate was 1.7%, also higher than 1.4% in May, mainly due to the expansion of private housing rents, outgoing meals and travel expenses.
The statistics office of Hongkong said that
inflation
The pressure increased slightly, but basically.
Inflation rate
Still relatively mild.
With the expansion of economic activity, the impact of private housing rents is gradually emerging. Due to the recent weakening of the US dollar, consumer prices still have moderate upward pressure; however, the sustained growth of the overall economic productivity should offset some of the impact.
In June, the largest increase in electricity and gas and water in Hongkong was 63.4%. The main reason is that some households have exhausted the one-time tariff subsidy provided by the government.
Other categories of increase were food (excluding meals) (3%).
Clothes and shoes
(2.7%), out for meals (1.7%), pportation (1.6%) and housing (0.6%).
The seasonally adjusted composite consumer price index (CPI) eliminated all government one-time bail outs. The average monthly rate of change was 0.1% in the 3 months ended June, the same as last quarter.
In the 12 months ended June, the Composite CPI rose by 1.2% on a year by year, and the corresponding increase was 0.5% after excluding the government's one-time bail outs.
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