February Inflation Up 3.1%

Overall consumer prices rose by 3.1% year-on-year in February, the Census & Statistics Department said today.

Netting out effects of the Government's one-off relief measures, the underlying inflation rate was also 3.1%.

Price increases were recorded for electricity, gas and water, food, miscellaneous services, meals bought away from home, clothing and footwear, housing, transport, miscellaneous goods, alcohol and tobacco.

A year-on-year price decrease was recorded for durable goods.

The department said inflation pressure early this year remained moderate, adding the underlying inflation rate was 2.3%.

It said underlying inflation pressure may increase over the year due to continued expansion in the global and local economies. The inflation rate is expected to be contained at a moderate level.