Hong Kong's CPI up in July

HONG KONG, Aug. 20 (Xinhua) -- Hong Kong's overall consumer prices rose 1.7 percent year-on-year in July, the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government said on Thursday.

Netting out the effects of all the HKSAR government's one-off relief measures, the year-on-year rate of increase in the composite consumer price index (CPI) in July stood at 1.9 percent, unchanged from the previous month.

A spokesperson for the HKSAR government said that while inflation for fuel-related items stayed high with some showing accelerated increases, overall inflation remained moderate as price pressures on other components were generally contained.

Looking ahead, the spokesperson added that although ongoing geopolitical tensions in the Middle East remain a key source of uncertainty, overall inflation should stay moderate as price pressures on other fronts remain broadly in check.