Mild inflation in Hong Kong and Singapore

Hong Kong and Singapore saw mild inflation in August.

In Hong Kong, consumer prices rose 0.8 percent from a year ago. This was a slight moderation from the 0.9 percent rise in July.

In Singapore, consumer prices rose 1.6 percent from a year ago. Compared to July, prices were up 0.1 percent. In addition to higher oil prices, part of the on-year inflation rate was attributed to a one-percentage point increase in the goods and services tax in January.

The inflation figures are consistent with those from much of the rest of the world. Despite record-high oil prices, little of that seems to be flowing through to consumer prices.