从细分指数分析，甲类、乙类及丙类消费物价指数在2024年10月份的In October 2024, the overall consumer prices in Hong Kong increased by 1.4% compared to the same month last year, which is lower than the corresponding increase in September 2024 (2.2%).
According to the information from the智通财经APP, the Hong Kong government's Census and Statistics Department announced today (November 21) the consumer price index for Hong Kong in October 2024. Based on the comprehensive consumer price index, the overall consumer prices in October 2024 increased by 1.4% compared to the same month last year, which is lower than the corresponding increase in September 2024 (2.2%). The lower increase in October 2024 was mainly due to the absence of the low base effect brought by the rates waiver and exemption of additional rents for public housing in the third quarter of last year (July to September). Excluding the impact of all government one-time relief measures, the year-on-year increase of the comprehensive consumer price index in October 2024 (i.e., the core inflation rate) was 1.2%, higher than September 2024 (0.9%). The increase in October 2024 expanded primarily due to the increase in public housing rents.
The seasonally adjusted comprehensive consumer price index showed an average monthly increase of 0.1% for the three months ending in October 2024, while the corresponding increase for the three months ending in September 2024 was 0.4%. Excluding the impact of all government one-time relief measures, the corresponding increases were 0.2% and 0.1%.
From the analysis of the sub-indices, the year-on-year increases in the consumer price indices of categories A, B, and C in October 2024 were 1.6%, 1.3%, and 1.2%, respectively, while the corresponding increases in September 2024 were 2.9%, 2.0%, and 1.6%. Excluding the impact of all government one-time relief measures, the year-on-year increases of categories A, B, and C in October 2024 were 1.5%, 1.1%, and 1.1%, and the increases in September 2024 were 0.9%, 0.9%, and 1.0%.
The seasonally adjusted consumer price indices for categories A, B, and C showed an average monthly increase of 0.1% for the three months ending in October 2024, while the corresponding increases for the three months ending in September 2024 were 0.5%, 0.4%, and 0.3%, respectively. Excluding the impact of all government one-time relief measures, for the three months ending in October 2024, the seasonally adjusted average monthly increases of categories A, B, and C were 0.2%, 0.1%, and 0.1%, while the corresponding increases for the three months ending in September 2024 were all 0.1%.
Among the various components of the comprehensive consumer price index, the categories that recorded year-on-year increases in prices in October 2024 were tobacco and alcohol (up 21.8%), electrical utilities, gas, and water (up 8.5%), miscellaneous services (up 1.9%), dining out and takeaway (up 1.7%), miscellaneous goods (up 1.6%), transportation (up 1.6%), and housing (up 1.0%).
On the other hand, the categories that recorded year-on-year declines in the comprehensive consumer price index in October 2024 were clothing and footwear (down 1.4%), durable goods (down 0.7%), and basic food items (down 0.5%).
In the first ten months of 2024, the composite consumer price index rose by 1.8% compared to the same period last year, with the respective increases for Class A, Class B, and Class C consumer price indices being 2.2%, 1.7%, and 1.6%. Excluding the effects of all government one-time relief measures, the corresponding increases were 1.0%, 0.9%, 1.1%, and 1.2%.
For the three months ending in October 2024, the composite consumer price index increased by 2.0% compared to the same period last year, while Class A, Class B, and Class C consumer price indices increased by 2.6%, 1.8%, and 1.6%, respectively. Excluding the effects of all government one-time relief measures, the corresponding increases were 1.1%, 1.2%, 1.1%, and 1.1%.
For the twelve months ending in October 2024, the average composite consumer price index rose by 1.9% compared to the same period last year, with the respective increases for Class A, Class B, and Class C consumer price indices being 2.3%, 1.8%, and 1.7%. Excluding the effects of all government one-time relief measures, the corresponding increases were 1.1%, 1.0%, 1.1%, and 1.3%.
A spokesperson for the Hong Kong government stated that the basic consumer price inflation in October remained at a slight level. Food prices continued to record a slight year-on-year increase, while the decline in prices related to energy projects further narrowed. Price pressures on other major components remained largely contained. Looking ahead, overall inflation is expected to remain slight in the short term. Local costs may experience some slight upward pressure as the Hong Kong economy continues to grow. External price pressures should further ease, although uncertainties from the external environment still exist. The Hong Kong government will continue to monitor the situation.
