CPI Consumer Price Index News
- Hong Kong's consumer prices up 1.5 pct in July
Date: 22-Aug-2007 Sources: (People's Daily)
Overall consumer prices in Hong Kong rose 1.5 percent in July over the same month last year, official figures released Tuesday indicated.
The year-on-year increase was mainly due to enlarged rises in the price of pork, private housing rentals and the costs for meals bought away from home, said the Census and Statistics Department of the Hong Kong Special Administrative Region government.
Food items showing large price increases were pork (up 25 percent), eggs (22.7 percent), frozen meat (12.4 percent), other meat (9.5 percent), edible oils (9.1 percent) and canned meat (9 percent).
The department said the movement of food prices was likely to pose an upside risk to inflation in the near term. However, several measures, including the rates concession and the recent cut in public housing rentals, will continue to help to contain headline inflation in the coming months.
'Overall inflationary pressures will be somewhat cushioned by sustained labor productivity growth,' said the department.
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