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April inflation up 2.7%

May 23, 2016

Overall consumer prices rose 2.7% in April over the same month last year, down on March’s 2.9% figure, the Census & Statistics Department said today.

 

Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 2.3%, also down on the March figure of 2.8%.

 

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

 

Year-on-year decreases were recorded for durable goods, and clothing and footwear.

 

The department said underlying inflation eased in April, thanks partly to slower year-on-year increases in private housing rentals and food prices. It was also due to the year-on-year decrease in charges for package tours, partly reflecting the difference in timing of the Easter holiday.

 

Upside inflation risks should remain contained in near term, given soft import prices amid subdued global inflation, the retreat in local rental inflation, and moderate upward pressures on other local cost components, the department added.



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