Hongkong'S Inflation Rose To 7.9% In July, And Clothing Category Increased By 7.3%.

2011/8/23 11:59:00 33

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Hongkong'S Inflation Rose To 7.9% In July Up 7.3%.

Hongkong July

inflation

The rate rose to 7.9%, mainly reflecting the rise in food prices and private housing rents.

Inflation is likely to continue significantly in the short term as international food prices continue to rise, private housing rents rise further, and local cost pressures increase.

The Hongkong census and Statistics Department announced in August 22nd that the Composite CPI rose 7.9% in July, up from 5.6% in June.

The main reason is that the government's payment of public rental housing in July last year resulted in a lower benchmark.

Eliminate all government one-time bail outs.

Influence

The basic inflation rate was 5.8%, also higher than 5.5% in June.

This is mainly due to the expansion of private housing rents, pork prices and the increase in travel costs.

The seasonally adjusted composite consumer price index for the 3 months ended July

Average

The monthly increase was 0.3%, lower than the corresponding increase of 0.6% in the 3 months ended June.

Excluding the impact of all government one-time bail outs, the average monthly increase in the 3 months ended July was 0.5%, which was also lower than the corresponding increase of 0.6% in the 3 months ended June.

In all types of consumption items, annual increase was recorded in categories of tobacco and alcohol (20.1%), housing (16.4%), food (excluding outgoing meals), 10.7% (clothing), clothing (7.3%), outgoing meals (5.5%), traffic (4.8%), miscellaneous items (4.1%) and miscellaneous services (4%).

The categories of year-on-year decline include electricity, gas and water (down 16%) and durable goods (3.3%).

In the first 7 months of the year, the Composite CPI rose by 5%.

The basic inflation rate in the period was 4.6%, excluding all the government's one-time bail-out measures.