Hong Kong Inflation Remains Steady in April

MT Newswires Live16:55

Hong Kong's consumer inflation held steady at 1.7% year over year in April, unchanged from the previous month, according to figures released Thursday by the city's Census and Statistics Department.

The city's composite consumer price index, or underlying inflation rate, also held steady from the previous month at 1.6%.

On a seasonally adjusted basis, the composite CPI was flat on average in the three months ending April, compared with a 0.2% average monthly increase in the three months ending March.

After netting out the effects of all one-off relief measures, the corresponding average monthly rates of change were both 0.1%, the department said.

A government spokesman said price increases in fuel-related components were offset by limited rises in other components, keeping overall inflation moderate during the month.

The spokesman cautioned that the Middle East conflict could push up fuel-related consumer prices in the coming months.

"The final impacts would hinge on the evolving situation in the Middle East. Yet, price pressures from other fronts are generally contained, which should help rein in the potential upward pressure on overall inflation," the spokesman said.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment