Hong Kong’s Census and Statistics Department announced that the underlying inflation rate for November 2012 remained at 3.4%, the same as in October. This figure excludes the effects of all Government’s one-off relief measures.
Taking into account all factors, the Composite Consumer Price Index (CPI) rose by 4.1% in November 2012 over the same month a year earlier, slightly larger than the increase of 3.7% in October.
A Government spokesman indicated that the inflation rate remained largely stable in November. Looking ahead, he added, inflation pressures should stay manageable in the near term, considering the moderate global inflation and subdued local cost pressures. The Government will continue to monitor the inflation situation closely.
Analysed by sub-item, increases were noted in:
- Electricity, gas and water (+24.4%)
- Food (excluding meals bought away from home) (+6.4%)
- Meals bought away from home (+4.4%)
- Housing (+3.9%)
- Durable goods (+2.3%)
On the other hand, decreases were recorded for clothing and footwear (-3.0%) and transport (-0.3%).
