INFLATION AT 2.5% IN AUGUST

Overall consumer prices rose 2.5% year-on-year in August, the same as that in July, the Census & Statistics Department announced today.

Netting out the effects of the Government’s one-off relief measures, underlying inflation was 1.2%, also unchanged from July.

Compared with August last year, price increases were seen in the following categories: alcoholic drinks and tobacco; electricity, gas and water; housing; transport; meals out and takeaway food; miscellaneous services; miscellaneous goods; and basic food.

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

The Government said overall inflation should stay mild in the near term, while domestic costs may face some moderate upward pressures as the Hong Kong economy continues to grow.

External price pressures should moderate further in broad terms, although geopolitical tensions may bring uncertainties, it added.

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