Hong Kong CPI Misses Forecast

Hong Kong’s composite consumer price index in December rose 1.2% from a year ago against a backdrop of moderate inflation pressure, the Census and Statistics Department said Monday, MarketWatch reported. December’s CPI gain matched the rise in November but came in slightly under the median 1.3% increase forecast by five economists surveyed by The Wall Street Journal. “Looking ahead, inflation risks should remain contained in the near term, given the soft import prices and tame local cost pressures,” a government spokesman said in the department’s statement.