Hong Kong's Inflation Rises to 1.7% in March

MT Newswires Live04-23 16:52

Hong Kong's consumer prices rose 1.7% in March from a year earlier, data from the city's Census and Statistics Department showed Thursday.

The underlying inflation rate, which excludes the effects of all one-off government relief measures, rose to 1.6%, up from an average of 1.3% in January and February.

Price increases were recorded in miscellaneous services, transport, electricity, gas, and water, and miscellaneous goods. Alcoholic drinks and tobacco, basic food, housing, and meals out and takeaway food also rose.

Declines were seen in durable goods, clothing, and footwear.

A government spokesman said inflation picked up but remained moderate in March, driven mainly by faster increases in fuel-related prices amid higher global oil prices linked to the Middle East conflict, while other price pressures stayed largely contained.

Looking ahead, elevated oil prices are expected to feed through to consumer prices in the near term, though contained pressures elsewhere should help limit overall inflation.

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