July Inflation Up 3.3%

Overall consumer prices rose 3.3% year-on-year in July, the Census & Statistics Department announced today.

Netting out the effects of all the Government's one-off relief measures, the underlying inflation rate was 3.2%, same as that in June.

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

Decreases were recorded for electricity, gas and water, clothing and footwear and durable goods.

The Government said the effect of the enlarged pork price increase was offset by the narrower rise in charges for package tours.

Looking ahead, inflation pressures should remain largely contained in the near term amid the earlier easing in fresh-letting residential rentals, modest global inflation and subdued local economic conditions, it added.