Rising inflation result of high clothing prices
The Government has blamed higher clothing and footwear prices in August for pushing up inflation figures.
Hong Kong's key inflation indicator - the consumer price A index - rose in August to 6.6 per cent, compared with 6.5 per cent in July, the Census and Statistics Department said yesterday.
Vegetable prices in August continued to increase, caused by the prolonged rainy weather starting from June together with the typhoons in August.
The consumer price A index tracks the 50 per cent of Hong Kong households spending between $2,500 and $9,999 per month. The B inflation index - measuring prices for households spending between $10,000 and $17,499 per month - increased 6.3 per cent in August, up from 6.2 per cent in July.
The corresponding rate of increase in the Hang Seng CPI, which tracks the price of a basket of consumer goods, was 6.2 per cent in August, lower than July's 6.6 per cent due in part to a slower increase in the prices of outer-clothing.
The composite consumer price index, a compilation of the three sub-inflation indices, in August showed a year-on-year increase of 6.3 per cent, slightly lower than that of 6.4 per cent in July.