Consumer prices up 1.8% in October but ‘smaller’ compared to September: C&SD

The increase in September 2022 was at 4.4%.

The consumer price index (CPI) grew by 1.8% in October 2022 but it is still smaller than the 4.4% recorded in September 2022, the Census and Statistics Department (C&SD) released.

According to its figures, the larger increase in September was attributed to the waiver of public housing rentals.

Without effects of the government's one-off relief measures, the year-on-year increase of composite CPI in October 2022 was 1.7%, slightly lower than the increase in September 2022 with 1.8%.

On a seasonally adjusted basis, the average monthly rate of growth in the Composite CPI for the three-month period ending October 2022 was 0.2%, and for the 3-month period ending September 2022 was 0.1%.  Taking out all Government's one-off relief measures, the corresponding rates of increase were both 0.1%.

The Composite CPI’s YoY increase in prices recorded in October 2022 for electricity, gas, and water was at 13.4%. Followed by clothing and footwear (4.5%); meals out and takeaway food (3.5%); basic food (3.3%); alcoholic drinks and tobacco (1.9%); transport (1.5%); miscellaneous services (1.5%); miscellaneous goods (1.0%) and housing (0.1%).    

The year-on-year decrease in the component of the Composite CPI was recorded in October 2022 for durable goods, which declined 0.6%.

Moderate inflation 

The consumer price inflation was moderate in October whilst the food prices continued to accelerate in increase, a government spokesman said.

Clothing and footwear had visible increase whilst energy items rose quickly, the spokesperson added.

“But price pressures on other major components remained broadly in check,” said the government spokesman