1.9% inflation in August

Overall consumer prices rose 1.9% in August year-on-year, the same as that in July, 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%, slightly less than July's 1.9%.

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

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

The Government said that the year-on-year increases in prices of food as well as clothing and footwear saw some moderation. Prices of energy-related items soared further, while price pressures on other components were broadly in check.

External price pressures are expected to remain notable amid high inflation in some major import sources.

Yet, overall inflation should remain moderate in the near term as domestic cost pressures are still mild, the Government added.