Consumer prices up 4.7%

May 22, 2012

Overall consumer prices rose 4.7% in April over the same month last year, compared to the corresponding increase of 4.9% in March, the Census & Statistics Department announced today.
 
With receding domestic and external price pressures amid a more difficult economic environment, and with a slowing local economy, inflation should ease further, the department said.
 
Netting out the effects of the Government's one-off relief measures, the year-on-year rate of increase in the Composite Consumer Price Index in April remained at 5.6%, matching March, mainly due to eased increases in food prices and private housing rents. However, the easing increase in price was offset by the faster rise in charges for package tours, the department added.
 
On a seasonally adjusted basis, the average monthly rate of increase in the Composite Consumer Price Index from February to April was 0.3%, and that for January to March was 0.4%.
 
Netting out the effects of the Government's one-off relief measures, the average monthly rate of increase in the Composite Consumer Price Index from February to April was 0.3%, and that for January to March was 0.4%.
 
Year-on-year increases in prices were recorded in April for food (excluding meals bought away from home) (8.8%); housing (7.2%); meals bought away from home (5.8%); transport (3.7%); miscellaneous services (3.4%); clothing and footwear (3.3%); miscellaneous goods (2.9%); and, alcohol and tobacco (0.4%).
 
A year-on-year decrease in prices was recorded in April for electricity, gas and water (-18.2%), and durable goods (-0.5%).