Inflation slightly faster in August

Price increases were recorded in transport, alcoholic drinks and tobacco, amongst others.

Overall consumer prices picked up 1.1% year over year in August, slightly higher than the 1% increase in July, according to the Census & Statistics Department.

Netting out the effects of the government's one-off relief measures, the underlying inflation rate was 1.1%, also larger month-on-month.

Price increases were recorded in transport, alcoholic drinks and tobacco, housing, miscellaneous services, food, electricity, gas and water, and miscellaneous goods.

Meanwhile, decreases were logged in durable goods, clothing and footwear, and basic food.

The government expects that overall inflation will remain modest in the near term, with pressures from domestic costs and external prices staying broadly in check.