Prices rose 2%, higher than the average 1.9% increase for January and February.
The Census and Statistics Department (C&SD) revealed that consumer prices rose by 2.0% year-on-year (YoY) in March, slightly faster than the 1.9% average 1.9% increase for January and February.
After factoring out the impact of the government’s one-off relief measures, the underlying inflation rate stood at 1.0%, also higher than the 0.9% average rate of increase for January and February.
Compared with March 2023, Hong Kong observed price hikes in categories such as alcoholic drinks and tobacco, meals out and takeaway food, housing, miscellaneous services, transport, miscellaneous goods, and clothing and footwear.
Meanwhile, electricity, gas and water, durable goods, and basic food recorded YoY price decreases.
The government anticipates overall inflation to stay contained in the near term, whilst domestic costs may face some upward pressures as the economy continues to grow.
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