NOVEMBER SEES 1.4% INFLATION

Overall consumer prices rose 1.4% year-on-year in November, the same increase as in October, the Census & Statistics Department announced today.

Netting out the effects of the Government’s one-off relief measures, underlying inflation was 1.2%, also the same as in October.

Compared with November last year, price increases were seen in the following categories: alcoholic drinks and tobacco; electricity, gas and water; miscellaneous services; meals out and takeaway food; transport; housing; and miscellaneous goods.

Meanwhile, year-on-year decreases were recorded for clothing and footwear, durable goods, and basic food.

The Government said that underlying consumer price inflation stayed modest in November. Food prices as a whole showed further mild year-on-year increases. Meanwhile, the decline in prices of energy-related items continued to narrow, while price pressures on other major components remained broadly in check.

Looking ahead, the Government said overall inflation should stay mild in the near term. Domestic costs could see some mild upward pressures, as the local economy continues to grow. External price pressures should ease in broad terms, although uncertainties from the external environment have increased.

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