February Inflation Up 2.1%

Overall consumer prices rose 2.1% in February on a year earlier, the Census & Statistics Department announced today.

Netting out the effects of all Government's one-off relief measures, the underlying inflation rate was 2.6%, compared to January’s 3%.

The month saw year-on-year price increases in food, housing, alcoholic drinks and tobacco, meals bought away from home, miscellaneous services, miscellaneous goods and transport.

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

The department said the underlying inflation was largely stable in recent months and external price pressures have also stayed moderate.

It said the upside risks to inflation should remain contained and the earlier moderation in fresh-letting residential rentals could have a mitigating effect in the period ahead.

The Government will monitor the inflation developments closely, particularly the impact on the lower-income people, it added.