Hong Kong Inflation Steady At 1.2%

(RTTNews) - Hong Kong consumer price inflation remained unchanged in November, the Census and Statistics Department said Monday.

The consumer price index registered an annual increase of 1.2 percent in November, the same rate as seen in October. Similarly, underlying inflation was unchanged at 1.0 percent in November.

Data showed that transport prices showed a notable increase of 3.5 percent, which was followed by alcoholic drinks and tobacco prices, rising 2.1 percent. Costs of miscellaneous services, housing, meals out and takeaway food, miscellaneous goods and basic food also contributed to higher inflation.

A government spokesman said overall inflation should remain modest in the near term, as cost pressures on the domestic and external fronts are still broadly in check.