HONG KONG – Overall consumer prices in Hong Kong rose 1.9 percent year-on-year in May, a slightly smaller increase than the 2 percent recorded in the previous month, according to the Census and Statistics Department.
Netting out the effects of the special administrative region government’s one-off relief measures, underlying inflation was 1 percent, also smaller than that in April, data released by the department on Friday showed.
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Compared with the same month last year, price increases were recorded in May in electricity, gas and water; housing; transport; miscellaneous services; meals out and takeaway food; miscellaneous goods; and alcoholic drinks and tobacco.
Year-on-year decreases were logged in clothing and footwear, durable goods, and basic food, the data showed.
With price pressures on various major components being contained in general, consumer price inflation has stayed modest in recent months, said a spokesman for the SAR government.
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Overall inflation should remain modest in the near term, with pressures from domestic costs and external prices staying broadly in check, added the spokesman.