HONG KONG – Hong Kong’s overall consumer prices rose by 2.0 percent year-on-year in March, slightly larger than the average rate of increase of 1.9 percent in January and February, according to official data released on Tuesday.

Netting out the effects of all government's one-off relief measures, the underlying inflation rate’s year-on-year increase last month was 1.0 percent, also slightly larger than the average rate of 0.9 percent in the previous two months, according to the Census and Statistics Department.

A Hong Kong Special Administrative Region government spokesman said that underlying consumer price inflation was modest in March

Year-on-year increases in prices were recorded for alcoholic drinks and tobacco (17.7 percent), meals out and takeaway food (3.3 percent), housing (3.1 percent), miscellaneous services (2.9 percent), transport (2.2 percent), miscellaneous goods (1.2 percent), and clothing and footwear (0.3 percent), it added.

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On the other hand, year-on-year decreases were logged for electricity, gas and water (-8.7 percent), durable goods (-1.5 percent), and basic food (-0.5 percent).  

A Hong Kong Special Administrative Region government spokesman said that underlying consumer price inflation was modest in March. While prices of meals out and takeaway food continued to rise relatively fast, prices of basic food edged down from a year earlier.

Prices of energy-related items also fell further while price pressures on other major components remained broadly in check, he added.  

READ MORE: Hong Kong inflation eases to 1.7% in January

Looking ahead, the spokesman said overall inflation should stay contained in the near term. While domestic costs may face some upward pressures as the Hong Kong economy continues to grow, external price pressures should remain on a broad downward trend, though heightened geopolitical tensions will bring uncertainties.