Consumer prices surged 4.3% in October

Will inflation tread higher?

In a report, the Census & Statistics Department announced overall consumer prices rose 4.3% year-on-year in October, less than September's corresponding 4.6% increase.

Netting out the effects of all one-off Government relief measures, the year-on-year rate of increase in the Composite Consumer Price Index in October was 4%, also smaller than September's 4.2% increase.

The department said underlying consumer price inflation eased slightly to 4% year-on-year in October, mainly because food prices rose more moderately after the temporary surge in September amid bad weather conditions.

Looking ahead, subdued imported inflation and moderated increases in fresh-letting residential rentals since early 2013 should help to contain upside risks to inflation in the near term.