ECONOMY | Staff Reporter, Hong Kong

Inflation jumps 1.9% for fourth straight month in April

Prices for food and basic utilities like electricity, gas and water continue to rise.

Inflation levels in Hong Kong rose for the fourth consecutive month in 2018 after climbing 1.9% YoY in April, according to figures released by the Census and Statistics Department.

Consumers are expected to bear the brunt of higher food prices which rose 4.6% YoY as well as electricity, gas and water which jumped 3.7% YoY.

The price of clothing and footwear, transport and alcoholic drinks and tobacco also rose 0.9%, 0.5% and 0.2% respectively.

Hong Kongers should brace for intensified inflationary pressures in the coming months as strong economic conditions continue which will push prices up, a government spokesman noted. 

Also read: GDP growth hits seven year high as economy surges 4.7% in Q1

“The feed-through of the rise in fresh-letting residential rentals over the past year or so will also likely become more visible in the period ahead. Nonetheless, the inflation rate should remain within a moderate range in the near term,” the report added.

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