Hong Kong's overall inflation rebounded in September, experts point to continued rebound in the short term

　　China News Service, Hong Kong, October 22 (Reporter Shi Bingyun) The Hong Kong Special Administrative Region Census and Statistics Department announced on the 22nd that the basic consumer price index (overall inflation) rose by 0.5% year-on-year after excluding the government’s one-off rent relief measures, mainly for dining out. This is due to rising costs and rising rents for public housing.

Some experts said in an interview with a reporter from China News Agency that consumer prices are expected to continue to rise in a short period of time.

　　According to data from the Census and Statistics Department, Hong Kong’s consumer price index fell 2.2% year-on-year in September this year, a larger drop than the corresponding drop in August (-0.4%).

In response, a government spokesman said that it was because the Hong Kong Housing Authority provided rent relief to public housing tenants that month.

Excluding the impact of the government's one-off relief measures, the overall inflation rate in September was positive and higher than last month.

　　Zhuang Tailiang, an associate professor in the Department of Economics at the Chinese University of Hong Kong, said that the data reflect the gradual recovery of Hong Kong residents’ consumption levels last month.

He predicted that in October, due to the improvement of the local epidemic situation and the recovery of inflation in the peripheral markets (China, the United States), Hong Kong's overall consumer prices will rebound before the end of the year.

　　Looking ahead, the spokesperson said that under the threat of the new crown pneumonia, the global and Hong Kong economies are still weak, and overall inflationary pressures will remain mild for the rest of this year.

　　According to the data announced by the Census and Statistics Department, the prices of food (excluding dining out) in various composite consumer price index items rose 3.1%, miscellaneous items rose 1.9%, tobacco and alcohol rose 1.8%, and dining out rose 0.6%.

　　The categories in which the Composite Consumer Price Index recorded a year-on-year decline in September included electricity, gas and water, clothing, housing, durable goods and transportation.

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