September inflation up 2.7%

October 23, 2018

Overall consumer prices rose 2.7% year-on-year in September, the Census & Statistics Department said today.

 

Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 3.1%, compared to 2.6% in August.

 

Year-on-year price increases were recorded in September for food, electricity, gas and water, housing, miscellaneous services, meals bought away from home, clothing and footwear, alcoholic drinks and tobacco, miscellaneous goods and transport.

 

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

 

The department said the underlying inflation rate went up to 3.1% in September mainly because of higher public housing rentals. There was also an increase in school fees as the effects of the government subsidy schemes introduced a year earlier dissipated.

 

It added the inflation rate may still be subject to mild upward pressure for the rest of the year due to higher local costs along with a sustained economic expansion.

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