October Inflation Up 3.1%

Overall consumer prices rose 3.1% year-on-year in October, the Census & Statistics Department announced today.

Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was also 3.1%, compared to 3.2% in September.

Year-on-year price increases were recorded for food, miscellaneous goods, housing, miscellaneous services, meals bought away from home and transport.

Year-on-year decreases were recorded in October for electricity, gas and water, clothing and footwear, durable goods as well as alcoholic drinks and tobacco.

The Government said price pressures were largely moderate, while food inflation remained high due to elevated pork prices.

Looking ahead, modest global inflation and subdued economic conditions should help contain overall inflation, and inflation may stay elevated in the near term given the supply situation of fresh pork, it added.