2017.05.2304:58:00UTC+00Hong Kong CPI Climbs For Second Month

Hong Kong's consumer prices increased for the second straight month in April, figures from the Census and Statistics Department showed Tuesday.

The consumer price index climbed 2.0 percent year-over-year in April, faster than the 0.5 percent rise in March.

The underlying inflation, which excludes one-off relief measures of the government, accelerated to 2.0 percent in April from 1.3 percent a month ago.

Transport costs grew 3.4 percent annually in April and housing costs went up by 2.7 percent. At the same time, clothing and footwear prices dropped 1.7 percent.

"The uptick in the underlying inflation rate in April was mainly due to the difference in timing of the Easter holidays, which fell in mid-April this year but in late March last year, resulting in a visible year-on-year rebound in the charges for package tours in that month," a government spokesman said.

"Looking ahead, the upside risks to inflation should remain contained in the near term, considering the low imported inflation as well as moderate local cost pressures. "

"The Government will continue to monitor the inflation developments closely, particularly its impact on the lower-income people."