2019.11.2110:26:00UTC+00Hong Kong Inflation Lowest In 5 Months

Hong Kong's consumer price inflation eased to the lowest level in five months in October, data from the Census and Statistics Department showed on Thursday.

The consumer price index rose 3.1 percent year-on-year in October, after a 3.2 percent increase in September. That was in line with economists' expectation.

The latest inflation was the lowest since May, when prices rose 2.8 percent.

Excluding the effects of all government's one-off relief measures, core inflation eased to 3.1 percent in October from 3.2 percent in the previous month.

The smaller inflation was mainly due to the rise in private housing rentals and prices of fresh fruit, the agency said.

"Price pressures on most major CPI components were largely moderate but food inflation remained high due to elevated pork prices," a government spokesman said.

"Looking ahead, modest global inflation and subdued economic conditions should help contain overall inflation."

However, inflation may stay somewhat elevated in the near term given the supply situation of fresh pork, the spokesman added.