Consumer prices up 4%

May 21, 2013

Overall consumer prices rose 4% year-on-year in April, compared to the corresponding increase of 3.6% in March.
 
The Census & Statistics Department said today, 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 was 3.9%, compared to 3.7% in March.
 
The change was attributable to increases in the prices of fresh vegetables.
 
The larger magnitude of widening in the year-on-year rate of increase in the Composite CPI, from 3.6% in March to 4% in April, as compared with the underlying counterpart, from 3.7% in March to 3.9% in April, was largely due to the lower ceiling of rates concession, from $2,500 per quarter for each rateable property to $1,500 starting from April.
 
The department expected inflation to rise slightly in the coming months as the lagged effects of the rise in private housing rentals during 2012 feed through.
 
Imported inflation stayed tame and the recent softening in housing rentals should help contain the upward pressure on inflation in the latter part of this year.
 
Year-on-year increases in prices were recorded in April for food (excluding meals bought away from home) (6.6%); housing (5.9%); electricity, gas and water (4.9%); meals bought away from home (4.3%); miscellaneous services (2.8%); alcohol and tobacco (2.2%); transport (2.1%); miscellaneous goods (1.9%); and, clothing and footwear (1.2%).