Overall consumer prices rose 4.1% year-on-year in January, down from December’s 4.9% increase, the Census & Statistics Department announced today.
Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 2.3% compared to 3.1% in December.
Year-on-year increases were recorded for electricity, gas and water, housing, alcohol and tobacco, meals bought away from home, food and miscellaneous goods.
Year-on-year decreases were recorded for durable goods, clothing and footwear, and miscellaneous services.
The department said inflation continued to ease in January, partly due to the Lunar New Year being in mid-February this year but in late January last year. It said it will be more meaningful to compare the combined figures for January and February when they are available.
It forecast inflationary pressures should be contained in the near term, as soft international commodity prices and lower global inflation should keep imported inflation mild, while local cost pressures will likely stay moderate.
