Inflation up 2.1% in April

Prices of energy-related items, clothing and footwear, and takeaway food continued to rise.

The overall Consumer Price Index (CPI) rose 0.4 points to 2.1% in April from 1.7% in March, according to data from the Census & Statistics Department.

Netting out the effects of the lower rates concession ceiling and other one-off relief measures from the government, the underlying inflation rate grew 0.1 points to 1.8% from 1.7% previously.

Alcoholic drinks and tobacco (18.2%) notably had a sizeable price increase, followed by electricity, gas, and water (17.8%), clothing and footwear (6.4%), meals out and takeaway food (4.2%), miscellaneous services (2.3%), transport (2.2%), miscellaneous goods (0.8%), and housing (0.5%).

On the other hand, the prices of durable goods fell by 3.3%, whilst the prices of basic food remained at 2.8%.

"Looking ahead, domestic cost pressures may increase alongside the economic recovery. External price pressures should see some moderation, but they remain notable for some time. Overall inflation will likely pick up in the rest of 2023, though remaining largely moderate," a Government spokesman said, adding that the Government will continue to monitor the situation.

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