This entry was posted by Lee Upton on November 6, 2020 at 11:32 pm
Overall consumer prices in September fell 2.2% year-on-year, larger than the corresponding decrease of 0.4% in August. The increase was mainly due to the rising cost for meals bought away from home and the upward adjustment in public housing rentals. Looking ahead, overall inflationary pressures should stay mild in the rest of the year as global and local economic conditions remain weak amid the threat of COVID-19.
The seasonally adjusted unemployment rate rose to 6.4% (Jul – Sep) while the underemployment rate remained unchanged at 3.8%. With the weak overall economic situation amid the evolving global pandemic, the labor market will remain under pressure in the near term.