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Inflation up 2.7%

October 20, 2016

Overall consumer prices rose 2.7% in September over the same month last year, 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%, up on the August figure of 2.1%.

 

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

 

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

 

The department said inflation pressure stayed moderate in September.

 

It said the slight pick-up in the underlying inflation rate in September was mainly due to the upward adjustment in public housing rentals.

 

Inflation risks should remain contained in the near term, given the subdued global inflation as well as moderate local cost pressures, it added.



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