Consumer prices rise 1.7% in August

Electricity, gas, and water recorded the largest increase at 11.5%.

Overall consumer prices rose 1.7% year-on-year (YoY) in August, unchanged from July, whilst underlying inflation was 1.9% after excluding the effects of the government’s one-off relief measures, the Census and Statistics Department reported.

On a seasonally adjusted basis, the average monthly increase in the Composite Consumer Price Index was 0.2% for the three months ending August, unchanged from the previous three-month period. Excluding the effects of the government’s one-off relief measures, the rate was also 0.2%.

Amongst individual categories, electricity, gas, and water recorded the largest YoY increase at 11.5%, followed by miscellaneous services at 4.7%, transport at 3.9%, and miscellaneous goods at 2.5%.

Prices also rose for meals out and takeaway food by 1.1%, durable goods by 0.8% and housing by 0.1%.

Meanwhile, basic food prices fell 0.2% YoY. Prices of alcoholic drinks and tobacco, as well as clothing and footwear, were unchanged.