March Inflation Up 2.6%

Overall consumer prices rose by 2.6% year-on-year in March, the Census & Statistics Department said today.

Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was also 2.6%, compared to the 2.3% average rate of increase in January and February.

Year-on-year increases in prices were recorded in March for food, electricity, gas and water, meals bought away from home, miscellaneous services, housing, transport, alcohol and tobacco, clothing and footwear, and miscellaneous goods.

A year-on-year decrease in prices was recorded for durable goods.

The department said inflationary pressures generally held moderate, though the year-on-year rate of increase in the underlying Composite Consumer Price Index went up slightly in March.

Looking ahead, it said external and local price pressures will rise this year if economic growth continues.