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On the up: Overall consumer prices rose 2.4% in April over the same month last year. |
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Overall consumer prices rose 2.4% in April over the same month last year, the Census & Statistics Department announced today.
April's Composite Consumer Price Index was slightly larger than the rate of increase in March, which was 2%.
Netting out the effects of the Government's relief measures, the year-on-year rate of increase in the underlying inflation rate in April was 1.3%, larger than that in March, mainly due to the enlarged year-on-year increases in the prices of clothing and footwear, fresh vegetables and private housing rent.
Inflationary pressures increased modestly in April, along with a more entrenched economic recovery and the slightly faster increases in import prices in recent months, the department said.
Inflationary pressures may rise further if the current economic upswing continues, it added. Yet the sustained productivity growth and recent rapid expansion in business volume should help to alleviate part of the upward pressures on local businesses' unit operating costs. The Government will monitor the situation.
During the month, year-on-year increases in prices were recorded for electricity, gas and water (64.4%), food (excluding meals bought away from home) (2.7%), miscellaneous goods (2.1%), clothing and footwear (2%), miscellaneous services (1.9%), transport (1.7%), meals bought away from home (1.3%) and alcohol and tobacco (0.5%).
A year-on-year drop in prices was recorded for durable goods (-1.6%) and housing (-0.1%).
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