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Published: 18:39, January 20, 2022 | Updated: 20:27, January 20, 2022
Hong Kong's consumer prices up 2.4% in December
By Wang Zhan
Published:18:39, January 20, 2022 Updated:20:27, January 20, 2022 By Wang Zhan

People cross a road in the Central district of Hong Kong on Oct 25, 2021. (ISAAC LAWRENCE / AFP)

HONG KONG - Hong Kong's overall consumer prices rose by 2.4 percent in December from a year earlier, faster than that of November at 1.8 percent, data from the Census and Statistics Department showed Thursday.

Excluding the effects of the government's one-off relief measures, the underlying inflation rate last month rose to 1.4 percent year-on-year, also larger than November's 1.2-percent increase. The larger increase was mainly due to the enlarged increases in costs for meals out and takeaway food as well as electricity charges, the department said.

Looking ahead, a government spokesman said external price pressures may increase further amid elevated global inflation and the pandemic-induced logistic disruptions

In the fourth quarter of 2021, the underlying inflation rate rose 2 percent over a year earlier. For 2021 as a whole, the underlying inflation rate was 1.6 percent higher than the preceding year.

Amongst the various components of the Composite CPI, year-on-year increases in prices were recorded for electricity, gas and water (54.2 percent); clothing and footwear (8.7 percent); transport (4.1 percent); meals out and takeaway food (3.7 percent); durable goods (2.1 percent); basic food (1.9 percent); miscellaneous services (1.0 percent) and alcoholic drinks and tobacco (0.6 percent).  

On the other hand, year-on-year decreases in the components of the Composite CPI were recorded for miscellaneous goods (-1.1 percent) and housing (-0.5 percent).

Looking ahead, a government spokesman said external price pressures may increase further amid elevated global inflation and the pandemic-induced logistic disruptions.

"Yet, as the latest wave of the local epidemic has weighed on some consumption-related activities and domestic cost pressures remain limited, the underlying inflation should stay broadly in check in the near term," the spokesman said.

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