December Inflation Up 2.9%

Overall consumer prices rose 2.9% year-on-year last December, the Census & Statistics Department announced today.

Netting out the effects of the Government's one-off relief measures, the underlying inflation rate for the month was also 2.9%, unchanged from last November.

Year-on-year price increases were recorded for food, miscellaneous goods, housing, meals bought away from home, miscellaneous services and transport.

Year-on-year decreases were recorded for electricity, gas and water, clothing and footwear, durable goods as well as alcoholic drinks and tobacco.

The Government said the underlying consumer price inflation rate was stable and price pressures on most major Consumer Price Index components stayed modest or moderate. Food inflation remained notable amid elevated fresh pork prices, it added.

Looking ahead, mild imported inflation and subdued local economic conditions should help contain overall inflationary pressures in the near term, it said.