A customer buys vegetables at a food market in Hong Kong on Feb 12, 2022. (PHOTO / AFP)

HONG KONG – Consumer prices in Hong Kong rose by 2.7 percent in October year-on-year, which is higher than the 2.0 percent increase recorded in September, the Census and Statistics Department said Tuesday.

The larger increase in October was mainly due to the end of the rates concession and the one-year waiver of the extra public housing rent payable both in September, the department said.

Prices of meals out and takeaway food, and clothing and footwear continued to increase visibly over a year earlier. Price pressures on other major components remained broadly in check

Netting out the effects of the government's one-off relief measures, the underlying inflation rate was 1.7 percent, which is smaller than September’s 1.8 percent, it added.

Compared with October last year, price increases were seen in alcoholic drinks and tobacco (18.3 percent); clothing and footwear (6.3 percent); meals out and takeaway food (3.9 percent); housing (2.7 percent), transport (2.3 percent); miscellaneous goods (1.9 percent); basic food (1.4 percent); and electricity, gas and water (0.2 percent).

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On the other hand, a year-on-year decrease was recorded for durable goods (-1.2 percent), the data showed.

A Hong Kong Special Administrative Region government spokesman said that the underlying consumer price inflation rate remained moderate in October.

Prices of meals out and takeaway food, and clothing and footwear continued to increase visibly over a year earlier. Price pressures on other major components remained broadly in check, he said.

Looking ahead, overall inflation should stay moderate in the near term, with external price pressures are expected to soften further, he added.

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The spokesman added that, while domestic business cost might face some upward pressures as the economy continues to revive, it should remain contained in the near term. The government will continue to monitor the situation.