Inflation at 1.2% in October
Overall consumer prices rose 1.2% year-on-year in October, slightly larger than the 1.1% increase in September, the Census & Statistics Department announced today.
Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1% in October, same as that recorded in the previous month.
Compared with the year before, price increases were recorded in October in the following categories: transport; alcoholic drinks and tobacco; miscellaneous services; housing; miscellaneous goods; meals out and takeaway food; and basic food.
Meanwhile, year-on-year decreases were logged for clothing and footwear; durable goods; and electricity, gas and water.
The Government said consumer price inflation remained low in October. It expects that overall inflation should stay muted in the near term, as domestic cost pressures are mild and external price pressures are subdued.