Hong Kong Consumer Prices Fall Further

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Hong Kong’s consumer prices declined for the fifth month in a row in November, data from the Census and Statistics Department showed on Monday.

The composite consumer price index fell 0.2 percent year-on-year in November, same as seen in October.

Excluding the effects of all government one-off relief measures, the composite consumer price index advanced 0.3 percent annually in November, after a 0.4 percent rise in the previous month.

“Looking ahead, overall inflationary pressures are likely to stay very mild in the near term as global and local economic conditions remain clouded by the threat of COVID-19,” a government spokesman said.

Private housing rentals declined modestly, while price pressure on other major components remained mild amid subdued economic conditions.

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