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Inflation up 1.2%

January 23, 2017

Overall consumer prices rose 1.2% in December over the same month in 2015, the Census & Statistics Department said today.

 

Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was slightly smaller than that in November.

 

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

 

Year-on-year decreases were recorded for durable goods, clothing and footwear as well as electricity, gas and water.

 

The department said inflation pressure remained moderate in December.

 

Inflation averaged 2.3% in 2016, compared to 2.5% in 2015.

 

Looking ahead, inflation risks should remain contained in the near term, given the soft import prices and tame local cost pressures, the department added.



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