October consumer prices up 3.1pc

Business | Avery Chen 22 Nov 2019

Overall consumer prices rose by 3.1 percent year-on-year last month, 0.1 percent smaller than the corresponding increase in September.

Netting out all effects of the SAR government's one-off relief measures, the composite consumer price index was also 3.1 percent in October, 0.1 percent smaller than that in September.

The CPI for food, which excludes meals bought away from home, rose 13.3 percent due to elevated pork prices. The CPI for housing grew 3.1 percent year-on-year and the index for transport increased by 2.1 percent.

The CPI for electricity, gas and water dropped 5.8 percent, whereas clothing and footwear fell by 3.5 percent.

A government spokesman said inflation may stay somewhat elevated given the supply situation of fresh pork.

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