Inflation edges up to 1.2% in October

Price increases were logged in various sectors, including transport, housing, and basic food.

Overall consumer prices slightly picked up in October, hitting 1.2% from 1.1% the previous month, according to the Census & Statistics Department.

Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1% in October, the same as that recorded in the previous month.

Price increases were recorded in transport, alcoholic drinks and tobacco, miscellaneous services, housing, miscellaneous goods, meals out and takeaway food, and basic food.

Meanwhile, decreases were logged for clothing and footwear, durable goods, and electricity, gas and water.

The government expects overall inflation to stay muted in the near term, as domestic cost pressures are mild and external price pressures are subdued.