Hong Kong inflation rises in May

Source: Xinhua | 2018-06-22

Hong Kong's overall consumer prices rose by 2.1 percent in May over the same month a year earlier, larger than the 1.9 percent rise in April, statistics showed on Thursday.

Netting out the effects of government's one-off relief measures, the underlying inflation rate rose to 2.4 percent in May from 2.2 percent in the prior month, according to the Census and Statistics Department of China's Hong Kong Special Administrative Region government.

Higher inflation was mainly due to the enlarged increases in the charges for package tours and private housing rentals.

A government spokesman said consumer price inflation remained moderate in May, though picking up somewhat from the earlier part of the year amid favorable economic conditions.

Looking forward, inflationary pressure will likely go up, in view of the robust economic conditions and earlier rises in fresh-letting residential rentals, but inflation should stay within a moderate range for the year as a whole, the spokesman said.