Consumer prices up 3.9%

June 20, 2013

Overall consumer prices rose 3.9% year-on-year in May, compared to the corresponding 4% increase in April, 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 May was 3.8%, compared to 3.9% in April.
 
The department said the change was due to the slower rise in fresh vegetable prices.
 
It expected inflation to rise in the coming months as the effects of the rise in private housing rentals during 2012 continue to feed through.
 
The lower imported inflation and recent milder increase in housing rentals in the market for fresh lettings should help contain inflation later this year.
 
Year-on-year price increases were recorded in May for housing (6.1%); electricity, gas and water (5.9%); meals bought away from home (4.3%); food (excluding meals bought away from home) (3.6%); miscellaneous services (3.1%); miscellaneous goods (2.5%); transport (2.3%); alcoholic drinks and tobacco (1.6%) and clothing and footwear (0.7%).