The value of Hong Kong’s total exports decreased to $284.1 billion in February, down 0.8% on the same month last year, the Census & Statistics Department announced today. The value of imports of goods fell 1.8% to $325.7 billion for the same period. A trade deficit of $41.7 billion, or 12.8% of the value of imports, was recorded in February. Comparing the three-month period ending February with the preceding three months on a seasonally adjusted basis, the value of exports rose 5.5%, while that of imports also increased 3.3%. The Government noted that taking the first two months of the year together to remove the volatility caused by the difference in timing of the Lunar New Year, the value of exports posted a 16.6% growth against a very low base of comparison a year ago. Exports to the Mainland and the US rose notably, while those to the European Union fell. Those to other major Asian markets recorded a mixed performance. Looking ahead, the Gove
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 pressures on other major components remained broadly in check.
Notwithstanding the intensive external price pressures, overall inflation should remain moderate in the near term amid largely mild domestic cost pressures, the Government added.
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