On the rise: Overall consumer prices rose 2.3% in December over a year earlier, slightly up on November's 2.2% growth.

Overall consumer prices rose 2.3% in December over a year earlier, slightly up on November's 2.2% growth, the Census & Statistics Department says.

The larger year-on-year increase was mainly due to increases in the price of freshwater fish and private housing rentals.

The department said the slight rise in the consumer price inflation in December was mostly due to the temporary disruption in the freshwater-fish supply.

Also noteworthy is the faster rise in food prices in general, partly reflecting the modest effect of the renminbi's gradual appreciation over the past year or so.

The department said the current inflation rate is still moderate and likely to stay so in the coming months, benefiting from Hong Kong's continued productivity increase and the recent fall in oil prices.

However, it added the impact of the Hong Kong dollar's weakening along with the US dollar and the reminbi's gradual appreciation on imported inflation - though rather modest up to now - are factors to watch.

Clothing, housing see largest price hikes

Year-on-year increases in prices were recorded in December for clothing and footwear (up 6.4%), housing (4.8%), food (excluding meals bought away from home) (4.3%), miscellaneous goods (3%), miscellaneous services (1.8%) and meals bought away from home (1.5%). 

Year-on-year declines in prices were recorded for durable goods (- 6.1%), alcoholic drinks and tobacco (- 4.2%), electricity, gas and water (- 2.9%) and transport (- 0.2%). 

In the fourth quarter of 2006, the Composite CPI rose 2.1% over a year earlier. 

For 2006 as a whole, the Composite CPI was on average 2% higher than in the preceding 12-month period.