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 From Hong Kong's Information Services Department
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June 20, 2008
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Economy
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Inflation up 5.7%
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Inflation up 5.7%
Rising trend: Overall consumer prices rose 5.7% in May, due to hikes in housing rent and the cost of meals brought away from home.

Overall consumer prices rose 5.7% in May over the same month last year, the Census & Statistics Department says.

 

The underlying inflation rate was 5.7% compared to April's 5.4%, mainly due to hikes in housing rent, charges for package tours and the cost of meals bought away from home.

 

Analysed by sub-index, the year-on-year rates of increase in the headline CPI(A), CPI(B) and CPI(C) were 5.6%, 5.8% and 5.5% in May, compared to 5.5%, 5.5% and 5.2% in April.

 

Netting out the effect of the rates concession, year-on-year increases in the CPI(A), CPI(B) and CPI(C) were 5.6%, 5.8% and 5.6% in May, compared to 5.5%, 5.5% and 5.3% in April.

 

Large year-on-year price increases were recorded for food, with pork up 56.8%, beef 50%, canned meat 45.7%, rice 39.9%, edible oils 36%, other meat 30.5% and fresh-water fish 23%.

 

Year-on-year price increases were also recorded for electricity, gas and water; meals bought away from home; housing; miscellaneous goods; transport; clothing and footwear; and, alcohol and tobacco.

 

For more information download the May issue of the Monthly Report on the Consumer Price Index free by clicking here.