, Hong Kong
102 view s
Photo by Ken Mages on Unsplash

Consumer prices rise 1.9% MoM in July

The year-on-year rate of increase in consumer prices was also 1.9%.

Consumer prices rose 1.9% MoM in July, slightly faster than the 1.8% increase in June, data from the Census and Statistics Department (C&SD) showed.

The year-on-year rate of increase in the Composite Consumer Price Index (CPI) in July 2022 was also 1.9%,  after netting out the effects of all Government's one-off relief measures.

Prices particularly rose for electricity, gas and water (+15.1% YoY), clothing and footwear (+6.5% YoY), basic food (+5.0% YoY), meals out and takeaway food (+3.5% YoY), alcoholic drinks and tobacco (+2.0% YoY),  transport (+1.5% YoY), miscellaneous services (+1.4% YoY), durable goods (+1.2% YoY) and miscellaneous goods (+0.5% YoY). 

For households in the relatively low (CPI-A), medium (CPI-B) and relatively high (CPI-C) expenditure ranges, consumer prices rose 1.9% MoM, 1.8% MoM, and 2.0%, respectively.

Netting out the effects of all Government's one-off relief measures, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 1.9%, 1.8% and 2.0% respectively in July 2022.

Overall, the July Composite CPI or underlying consumer price inflation was "moderate," according to a government spokesperson.

In the near term, the spokesperson said inflation should stay moderate as "domestic cost pressures should continue to be mild."

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Hong Kong to review capital rules to boost insurers’ infrastructure assets
It also plans to attract enterprises to establish captive insurers locally.Hong Kong will review the risk-based capital regime introduced in July, assessing capital requirements related to infrastructure investments to diversify insurance companies' asset allocations and encourage future investments.
Insurance
AlixPartner names Una Ge as new HK partner and managing director
She was previously a partner at Deloitte China, focusing on cross-border restructuring.

Exclusives

Braillic’s AR tech helps brain surgeons see through the walls
The medical software provider plans to expand its use to spinal and orthopaedic procedures.
Healthcare
Stellerus helps organisations manage hazard, climate risks
The Hong Kong startup offers a fast and accurate early warning system for natural disasters.
K11 MUSEA bridges art, culture, and retail
Visitors find top-tier brands and museum-grade art pieces at the cultural-retail landmark.