April Inflation Up 2.9%

Overall consumer prices rose 2.9% year-on-year in April, the Census & Statistics Department announced today.

Netting out the effects of all Government one-off relief measures, the underlying inflation rate was 2.9%, compared to the 2.6% increase in March.

The month saw year-on-year price increases in food, housing, miscellaneous services, transport, alcoholic drinks and tobacco, meals bought away from home, as well as miscellaneous goods.

Year-on year price decreases were recorded for electricity, gas and water, durable goods, as well as clothing and footwear.

The department said inflation will likely stay moderate in the near term as the earlier easing in fresh-letting residential rentals should have a mitigating effect in the coming months.

External price pressures have also eased recently, it said.

The Government will monitor the situation closely, particularly the impact on people with lower incomes, it added.