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MNI BRIEF: HK CPI Edges Up In December

MNI (BEIJING)
MNI (Beijing)

Consumer prices in Hong Kong rose by 2% y/y in December, quickening from November's 1.8% rise, according to The Census and Statistics Department (C&SD) on Friday.

Strong increases were seen in food (+3.8%), clothing (+5.1%) and energy (+14.7%), with other major components posting moderate rises. December's inflation rate was only the second time Hong Kong’s monthly inflation had reached 2% or above in 2022.

The CPI increased 1.7% in 2022, with domestic cost pressures in 2023 likely to rise alongside increases in economic activity, the C&SD said.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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