After nearly four years of consumer price deflation, Hong Kong's CPI (Consumer Price Index) continued its fall last month, dropping 3.3% in the year to June, slightly worse than the 3.1% fall to May.
It had been hoped that weakness in the US dollar would have begun to reverse the deflationary trend by pushing up Hong Kong dollar costs for imports, but a government spokesman said the weaker US dollar had made relatively little impact on Hong Kong prices so far.
Electricity, gas and water charges dropped 8.2%, reflecting rebates included in the budget, while the troubled property sector fell 6.3% - the public housing sector saw a even greater 10.4% fall.
Some of the only good news came for clothing and footwear, which saw a 3.4% price increase as a result of improving tourism.
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