New CPI data shows Hong Kong’s underlying inflation rate in September was 2.1 per cent, a full half a percent lower than in August.
The Census and Statistics Department (C&SD) said the easing was mainly because of the effect of upward adjustment in public housing rentals by the Housing Authority in September 2014 faded out in September 2015 and the special fuel rebate in electricity starting from mid-August was in effect throughout September 2015.
The lower food inflation also contributed to the easing trend.
The biggest impact on pricing was a rise in the cost of meals bought away from home – up 4.2 per cent
A government spokesman said inflation should remain contained in the near term given the soft import prices and moderate local cost pressures.