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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

Financial forum members reappointed

The Government announced today that Financial Secretary Paul Chan has reappointed 10 serving members to the Financial Leaders Forum and their appointments are from August 18, 2021 to June 30, 2022.   Mr Chan said: "I am confident that with the knowledge, expertise and vast experience of members, the Financial Leaders Forum will continue to provide constructive advice on consolidating Hong Kong's role as an international financial centre and promoting the long-term development of our financial services industry."   He also paid tribute to outgoing member David Wong for his contributions over the past two years.   Established in August 2017, the Financial Leaders Forum is a high-level platform comprising top leaders from the financial community and key financial regulators.   It is an institutional set-up underpinning the Government’s vision in playing an active leading role in policymaking and on matters relating to monetary stability, financial safety and regulation to reinforce Hong Kong's position as an international financial centre.
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