Hong Kong's headline CPI rises 3.7% on-year in June, slower than May's 4.3% rise, and below the median 3.9% rise forecast by five economists surveyed earlier by Dow Jones. A government spokesman says inflation in the city state eased in June due to slower increases in food prices and private housing rent. He/She?? adds that inflation may continue to ease in the coming months amid the global economic slowdown and falling import prices. "We expect CPI to normalize on the back of cooler food and private rental costs for at least another couple of months," HSBC economist Donna Kwok says. "Only once mainland and regional growth regains a firmer footing towards the end of this year will CPI start to build up again," she adds.
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