Consumer prices rise 2.5% YoY in July, accelerating from June’s increase

In June, prices rose by 1.5% YoY.

Consumer prices rose by 2.5% year-on-year (YoY) in July, faster than the 1.5% YoY increase in June.

After factoring out the impact of the government's one-off relief measures, the underlying inflation rate stood at 1.2%, also higher than the 1.0% increase in June.

Census and Statistics Department (C&SD) said Hong Kong observed price hikes in categories such as alcoholic drinks and tobacco; housing; transport; meals out and takeaway food; miscellaneous services; electricity, gas and water; miscellaneous goods; and basic food.

On the other hand, clothing and footwear and durable goods recorded YoY price decreases.

The government anticipates that overall inflation will stay mild in the near term, while domestic cost pressures could see moderate increases as the Hong Kong economy expands.