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1.8% inflation in October

Overall consumer prices rose 1.8% in October year-on-year, smaller than the 4.4% increase in September, the Census & Statistics Department announced today.   Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 1.7%, slightly less than September's 1.8%.   Compared with October last year, price increases were recorded for electricity, gas and water; clothing and footwear; meals out and takeaway food; basic food; alcoholic drinks and tobacco; transport; miscellaneous services, miscellaneous goods and housing.   On the other hand, a year-on-year decrease in price was recorded for durable goods.    The Government said that underlying consumer price inflation remained moderate in October.   The year-on-year increase in food prices showed some moderation, though remained relatively fast. Prices of clothing and footwear continued to record a visible increase, while those of energy-related items rose sharply. Price pressur

Rents for new public housing flats set

The Housing Authority today said rents for 10,445 flats of nine blocks at a new public rental housing estate and two existing ones, to be completed between July and December, have been set at the best rent levels in their respective districts.   The best monthly rent in the urban district, at $93.8 per sq m, will apply to 1,040 flats in Hoi Shing House of Hoi Tat Estate.   The best monthly rent in Kwai Chung District, at $90.7 per sq m, will apply to 540 flats in Heng King House of Lai King Estate.   Fanling District's best monthly rent of $66.5 per sq m will apply to 8,865 flats in seven blocks of Queen’s Hill Estate.   Under this rent-fixing exercise, the rent for more than 91.6% of the flats are below $2,500 per month.   The authority noted that the rents are heavily subsidised and are inclusive of rates, management fees and maintenance costs.   Those who are allocated new flats but cannot afford the rents may request refurbished flats at lower rents or apply for assistance under the Rent Assistance Scheme, it added.
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