INFLATION AT 1.4% IN DECEMBER

Overall consumer prices rose 1.4% year-on-year in December, the same increase as in November, the Census & Statistics Department announced today.

Netting out the effects of the Government’s one-off relief measures, underlying inflation was 1.3%, slightly larger than that recorded in November.

Compared with December 2023, price increases were seen in the following categories: alcoholic drinks and tobacco; electricity, gas and water; miscellaneous services; transport; meals out and takeaway food; miscellaneous goods; and housing.

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

The Government said that underlying consumer price inflation stayed modest in December. Food prices as a whole continued to show a mild year-on-year increase. Meanwhile, prices of energy-related items turned to slight increases, while price pressures on other major components remained broadly in check.

Looking ahead, the Government said overall inflation should stay moderate in the near term. Domestic costs may see some upward pressures, as the local economy continues to grow. External price pressures should remain contained, although uncertainties from the external environment warrant attention.

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