ECONOMY | Staff Reporter, Hong Kong

Consumer prices in Hong Kong creep up by 2%

Alcohol and tobacco prices went up whilst utilities prices dropped.

Overall consumer prices rose 2% year-on-year in April, compared to the 0.5% increase in March, the Census & Statistics Department said.

Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 2% in April, compared to the 1.3% increase in March, mainly due to the larger increases in the charges for package tours.

Year-on-year increases were recorded for alcohol and tobacco, transport, housing, meals bought away from home, miscellaneous services and goods.

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

The department said inflation stayed modest in April, adding the uptick in the underlying inflation rate in the month was mainly due to the difference in timing of the Easter holidays, resulting in a visible year-on-year rebound in the charges for package tours.

Looking ahead, the department said inflation pressure should remain moderate in the near term. The Government will continue to monitor inflation developments closely, particularly the impact on lower-income people.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.