4.4% INFLATION IN SEPTEMBER

Overall consumer prices rose 4.4% in September year-on-year, larger than the 1.9% increase in August, the Census & Statistics Department announced today.

Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 1.8%, the same as that of August.

Compared with September last year, price increases were recorded for electricity, gas and water; housing; basic food; meals out and takeaway food; clothing and footwear; transport; alcoholic drinks and tobacco; miscellaneous services and miscellaneous goods.

On the other hand, a year-on-year decrease in price was recorded for durable goods.  

The Government said that while the underlying consumer price inflation rate stayed moderate, the headline inflation rate was notably higher mainly due to the low base of comparison resulting from the waiver of public housing rentals by the Housing Authority in the same month last year.

Prices of food as well as clothing and footwear continued to record relatively visible year-on-year increases, while those of energy-related items soared further. Price pressures on other major components were broadly in check.

While import prices will continue to rise notably amid high inflation in many major economies, the largely mild domestic cost pressures should keep overall inflation moderate in the near term, the Government added.

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