
Hong Kong inflation pegged to hit 4.4% by year-end
Food, home rents still driving inflation up.
According to BBVA Research, Hong Kong's headline inflation, announced on Monday, ticked up to 4.6% y/y (consensus: 4.4% y/y) in September, from 4.5% y/y the previous month.
However, netting out the effects of the one-off relief measures, CPI inflation was 4.2% y/y in September (vs. 4.3% y/y in August). Food and residential rental continued to be the major drivers of aggregate price increase. "We expect inflation of 4.4% y/y by end-year," said BBVA Research.