In April, the pace of consumer price growth in Hong Kong decelerated, while the expenses related to dining increased.

In April, Hong Kong witnessed a moderate increase in consumer prices, with a rise of 1.1% compared to the same month last year. This indicates a slowdown from the 2% increase observed in March. Notably, the cost of dining out and takeaway meals experienced a more significant surge of 3.1%.

According to the Census and Statistics Department, the deceleration in the composite consumer price index (CPI) during this period was mainly influenced by the government's implementation of rates concession last month. Conversely, the CPI for electricity, gas, and water witnessed a substantial decline, dropping by 9.3% year-on-year. However, the cost of alcoholic drinks and tobacco surged by 20.8%.

Excluding the impact of all government relief measures, the underlying inflation rate for April stood at 0.9% , slightly below the 1 percent recorded in the previous month.

On a seasonally adjusted basis, the composite CPI remained stable throughout the three-month period ending in March 2024. Both the average monthly rate of change in the CPI and the rate excluding all one-time government measures exhibited no variation during this period.

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