Hong Kong August Consumer Prices Drop For Third Straight Month

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Tuesday, Hong Kong's Census and Statistics Department announced that the consumer price index or CPI dropped 1.6% year-on-year in August, compared to the 1.5% fall in the previous month. This was the third consecutive month of decline in consumer prices. Economists' expected a decline of 0.9%. The consumer price inflation was 4.6% a year ago.

The underlying CPI, excluding government relief measures, declined 0.3% in August, unchanged from the previous month.

In the June to August period, the CPI dropped a seasonally adjusted 0.7% compared to the previous three month period. At the same time, the underlying CPI was down 0.1%.

For the first eight months of the year, the CPI increased 0.2% compared to the same period of the previous year. In the three months ended in August, the CPI fell 1.3% over a year ago.

A Government spokesman said, " Looking forward, the upward pressure on consumer prices should remain subdued in the coming months."

Tuesday, Hong Kong's Census and Statistics Department announced that the consumer price index or CPI dropped 1.6% year-on-year in August, compared to the 1.5% fall in the previous month. This was the third consecutive month of decline in consumer prices. Economists' expected a decline of 0.9%. The consumer price inflation was 4.6% a year ago. (Market News Provided by RTTNews)