June Inflation Up 3.3%

Overall consumer prices rose 3.3% year-on-year in June, 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%, compared to 2.8% in May.

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

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

The Government said the rise of the underlying consumer price inflation rate was driven by the surge in pork prices amid the disruption to the supply of fresh pork, but price pressures of most items stayed tame.

Looking ahead, while overall price pressures should remain largely contained in view of the earlier easing in fresh-letting residential rentals and modest global inflation, the inflation rate in the near term may hinge on the supply situation and thus prices of fresh pork.