Hong Kong Business News

香港商業資訊

APRIL SEES 1.1% INFLATION

23-5-2024
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Overall consumer prices rose 1.1% in April year-on-year, smaller than the 2% increase in March, the Census & Statistics Department announced today.

Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 0.9%, also smaller than March's 1% increase.

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

By contrast, year-on-year decreases were recorded for electricity, gas and water, as well as durable goods and basic food.

The Government said underlying consumer price inflation stayed modest in April. Prices of meals out and takeaway food rose relatively fast, while prices of basic food edged down from a year earlier.

It also noted that prices of energy-related items fell notably, while price pressures on other major components remained broadly in check.

Looking ahead, overall inflation should remain contained in the near term, while domestic costs may face some upward pressures as the economy continues to grow.

External price pressures should remain on a broad downward trend, though geopolitical tensions will bring uncertainties, the Government added.



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