Consumer prices rise 1.9% YoY in June

The rate of increase in June was slower than May.

Consumer prices rose 1.9% YoY in June, down from the 2% increase in May.

Netting out the effects of the government’s one-off relief measures, the Composite Consumer Price Index (CPI) would have increased 1.7%.

Prices particularly rose for alcoholic drinks and tobacco; electricity, gas and water; clothing and footwear; meals out and takeaway food; basic food; miscellaneous services; miscellaneous goods; transport; and housing.

Only durable goods saw a price decrease in June.

Looking ahead, the government expects inflation to stay moderate and external price pressure to recede further.

“While domestic business costs could face some upward pressures, these are likely to remain largely moderate in the near term,” the government added.