August inflation up 2.3%

2018-09-21 00:23:19

Overall consumer prices rose 2.3% year-on-year in August, the Census & Statistics Department said today.

Netting out effects of the Government's one-off relief measures, the underlying inflation rate was 2.6%, compared to 2.7% in July.

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

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

The department said the underlying inflationary pressure held steady in recent months.

Looking ahead, it expects inflationary pressure to increase modestly in the coming months given higher global inflation and continued feed-through of earlier rises in fresh-letting residential rentals.

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