Nov inflation up 1.8%

Overall consumer prices rose 1.8% in November year-on-year, the same as that in October, the Census & Statistics Department announced today.


Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1.7%, also the same as that in October.


Compared with November last year, price increases were recorded for electricity, gas and water; clothing and footwear; meals out and takeaway food; basic food; alcoholic drinks and tobacco; transport; miscellaneous services and miscellaneous goods.


On the other hand, year-on-year decreases were recorded in durable goods and housing.  


The Government said that underlying consumer price inflation remained moderate in November.


The year-on-year increase in food prices remained relatively fast, and prices of energy-related items as well as clothing and footwear continued to increase visibly. However, price pressures on other major components remained broadly in check.


Import price pressures will likely remain notable amid high inflation in many major economies, but the largely mild domestic cost pressures should keep overall inflation moderate in the near term, the Government added.