Hong Kong CPI up 3.8 pct in October

Hong Kong's overall consumer price rose 3.8 percent in October over the same month a year earlier, flat from the growth rate in September, the city's Census and Statistics Department said Thursday.

Netting out the effects of all government's one-off relief measures, the year-on-year growth of Composite Consumer Price Index (CPI) eased to 3.8 percent in October, slightly down from 3.9 percent in September, due to smaller increases in private housing rentals.

A government spokesman said that inflation remained on a general easing trend. Underlying inflation eased in October, mainly because of narrower year-on-year increases in food and private housing rentals.

Looking ahead, inflation should remain contained for the rest of the year, given the slower local economic growth and lower imported inflation, the spokesman said.

However, volatile international food and commodity prices amid the global liquidity glut and the rebound in local housing rentals may pose upside risks to inflation, he added.