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Consumer prices up 6.6%

October 21, 2014

Overall consumer prices rose 6.6% year-on-year in September, down from August's 3.9% increase, the Census & Statistics Department announced today.

 

Netting out the effects of all Government one-off relief measures, the underlying inflation rate was 3.3%, compared to 3.2% in August.

 

Year-on-year increases were recorded for electricity, gas and water, alcohol and tobacco, housing, meals bought away from home, food, transport, and miscellaneous goods and services.

 

A year-on-year decrease was recorded for durable goods.

 

The department said the spike in headline inflation in September on a year-on-year comparison was due to the temporary low base effect created by the Government's payment of public housing rentals in September last year.               

 

Excluding the effect of the Government's one-off relief measures, underlying inflation went up only marginally in September, on account of the upward adjustment in public housing rentals.

 

It said the Government will monitor inflation, particularly its impact on lower-income households.



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