MAY INFLATION UP 1.2%

Overall consumer prices rose 1.2% in May year-on-year, less than the 1.3% increase in April, the Census & Statistics Department announced today.

Netting out the effects of the Government’s one-off relief measures, the year-on-year increase in May’s underlying inflation rate was 1.7%, larger than the increase of 1.6% in April.

Compared with May last year, price increases were recorded for clothing and footwear; basic food; meals out and takeaway food; durable goods; transport; miscellaneous services; alcoholic drinks and tobacco as well as miscellaneous goods.

Year-on-year decreases were recorded for electricity, gas and water as well as housing.

The Government said prices of clothing and footwear as well as meals out and takeaway food recorded accelerated increases amid the stable local epidemic situation in the month.

Meanwhile, prices of energy-related items continued to increase sharply. The increase in basic food prices moderated further but remained visible. Price pressures on other major CPI components stayed broadly in check. 

External price pressures are expected to remain notable amid the rampant inflation in some major import sources. Yet, with domestic cost pressures remaining mild, overall inflation should stay moderate in the near term, the Government added.

---

PREVIOUSNEXT