HK May consumer prices rise by 1pc

Business | 22 Jun 2021 4:56 pm

Hong Kong overall consumer prices increased by 1 percent in May from a year ago, faster than 0.8 percent in April, according to the Census and Statistics Department.

Netting out the effects of all Government's one-off relief measures, the increase in the composite consumer price index was 0.2 percent, larger than 0.1 percent in April.

The larger increase was mainly due to the enlarged increases in the costs for meals out and takeaway food as well as the smaller decreases in the prices of fresh vegetables, the government said.

On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for March to May was 0.2 percent, and that for the three months  ending April 2021 was 0.1 percent.

Netting out the effects of all one-off relief measures, the corresponding rates of increase were 0.2 percent and 0.1 percent.

For the first five months of 2021, the Composite CPI increased by 1.1 percent over a year earlier.

A government spokesman said that price pressures on all major CPI components stayed modest, though prices of meals out and takeaway food showed a slightly larger year-on-year increase amid stabilized local epidemic situation.

"While external price pressures may intensify somewhat in the near term along with a rise in global inflation, overall inflation should remain largely contained as the local economy is still operating below capacity," the spokesman said.


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