RTTNews - Consumer prices in Hong Kong remained flat year-on-year in May, after rising 0.6% in the preceding month, the Census and Statistics Department said Monday. Economists expected an increase of 0.3%.
The statistical office said the consumer prices were still affected by the government's various one-off relief measures, in particular, implementation of electricity charge subsidy. Netting out these effects, the underlying inflation rate stood at 1.3% in May, smaller than 1.9% in April.
For the three month period ending May, the composite prices index was almost unchanged, following a drop of 0.1% in the preceding three-month period.
A government spokesman said, taking into account the current economic climate, inflationary pressures, if any, will remain weak in the near term.
For comments and feedback: contact email@example.com