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HK Sep Underlying Inflation Slows to 3.2%
The Census and Statistics Department (C&SD) announced that overall consumer prices rose by 3.2% in September 2019 over the same month a year earlier, smaller than the street forecast (3.3%) and the corresponding increase (3.5%) in August 2019.
Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in September 2019 was also 3.2%, smaller than that in August 2019 (3.4%).
The smaller increase during the month was mainly due to dissipation of the effect of upward adjustment in public housing rentals in September 2018 and decreases in prices of fresh vegetables.
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