Consumer prices rise in September: HK

HONG KONG: Hong Kong's inflation hit 5.8 percent year-on-year in September, mainly due to higher private housing rentals, the government said on Friday.

The figure was up slightly from 5.7 percent in August while the underlying rate was 6.4 percent in September compared to 6.3 in August, the Census and Statistics Department said in a statement.

"Inflation is likely to climb further in the near term before peaking out, as the lagged effects from earlier surges in international food prices and market rentals continue to filter through," a government spokesman said.

"Continued ease-backs of global food and commodities prices in recent months should help alleviate imported inflation," he added.