December inflation up 1.7%

January 23, 2018

Overall consumer prices rose 1.7% year-on-year in December, the Census & Statistics Department said today.


Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was also 1.7%, slightly higher than the 1.6% rise in November.


Year-on-year price increases were recorded for meals bought away from home, housing, food, transport, clothing and footwear as well as miscellaneous goods.


Year-on-year decreases were recorded for durable goods as well as alcohol and tobacco.


The department said consumer price inflation remained moderate in December. Inflation averaged 1.7% in 2017, down from 2.3% in 2016, the sixth consecutive year of easing.


Looking ahead, inflation should remain moderate in the near term given the still-modest global inflation and steady rises in local costs, the department added.

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