Consumer Prices Rise 2.5% Year-on-Year in August 2024, Underlying Inflation Remains Steady

Consumer Price Indices for August 2024

The Census and Statistics Department (C&SD) released today (September 20) the Consumer Price Index (CPI) figures for August 2024. According to the Composite CPI, overall consumer prices rose by 2.5% in August 2024 over the same month a year earlier, the same as that in July 2024. Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in August 2024 was 1.2%, also the same as that in July 2024.

On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the 3-month period ending August 2024 was 0.6%, the same as that for the 3-month period ending July 2024. Netting out the effects of all Government's one-off relief measures, the corresponding rates of increase were both 0.2%.

Analysed by sub-index, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 3.2%, 2.2% and 1.9% respectively in August 2024, as compared to 3.1%, 2.3% and 2.0% respectively in July 2024. Netting out the effects of all Government's one-off relief measures, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 1.1%, 1.2% and 1.3% respectively in August 2024, as compared to 1.0%, 1.2% and 1.4% respectively in July 2024.

On a seasonally adjusted basis, for the 3-month period ending August 2024, the average monthly rates of increase in the CPI(A), CPI(B) and CPI(C) were 0.8%, 0.5% and 0.4% respectively, same as those for the 3-month period ending July 2024. Netting out the effects of all Government's one-off relief measures, the average monthly rates of increase in the seasonally adjusted CPI(A), CPI(B) and CPI(C) for the 3-month period ending August 2024 were 0.2%, 0.1% and 0.2% respectively, and the corresponding rates of increase for the 3-month period ending July 2024 were all 0.2%.

Amongst the various components of the Composite CPI, year-on-year increases in prices were recorded in August 2024 for alcoholic drinks and tobacco (20.8%), electricity, gas and water (4.8%), housing (3.3%), transport (2.8%), meals out and takeaway food (2.4%), miscellaneous services (2.2%), miscellaneous goods (0.9%), and basic food (0.8%).

On the other hand, year-on-year decreases in the components of the Composite CPI were recorded in August 2024 for clothing and footwear (-1.8%), and durable goods (-0.9%).

Taking the first 8 months of 2024 together, the Composite CPI rose by 1.8% over a year earlier. The respective increases in the CPI(A), CPI(B) and CPI(C) were 2.2%, 1.7% and 1.6% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.0%, 0.9%, 1.1% and 1.3% respectively.

For the 3 months ending August 2024, the Composite CPI rose by 2.1% over a year earlier, while the CPI(A), CPI(B) and CPI(C) rose by 2.7%, 1.9% and 1.8% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.1%, 1.0%, 1.1% and 1.3% respectively.

For the 12 months ending August 2024, the Composite CPI was on average 2.0% higher than that in the preceding 12-month period. The respective increases in the CPI(A), CPI(B) and CPI(C) were 2.4%, 1.9% and 1.8% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.2%, 1.1%, 1.2% and 1.5% respectively.

Commentary

A Government spokesman said that underlying consumer price inflation remained modest in August. Prices of meals out and takeaway food increased at a moderated pace over a year earlier, and those of basic food inched up further. Prices of energy-related items continued to show visible decline. Price pressures on other major components remained broadly in check.

Looking ahead, overall inflation should stay mild in the near term. Domestic cost may face some moderate upward pressures as the Hong Kong economy continues to grow. External price pressures should moderate further in broad terms, though geopolitical tensions may pose uncertainties. The Government will continue to monitor the situation.

Further information

The CPIs and year-on-year rates of change at section level for August 2024 are shown in Table 1. The time series on the year-on-year rates of change in the CPIs before and after netting out the effects of all Government's one-off relief measures are shown in Table 2. For discerning the latest trend in consumer prices, it is also useful to look at the changes in the seasonally adjusted CPIs. The time series on the average monthly rates of change during the latest 3 months for the seasonally adjusted CPIs are shown in Table 3. The rates of change in the original and the seasonally adjusted Composite CPI and the underlying inflation rate are presented graphically in Chart 1.

More detailed statistics are given in the "Monthly Report on the Consumer Price Index". Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1060001&scode=270).

For enquiries about the CPIs, please contact the Consumer Price Index Section of the C&SD (Tel: 3903 7374 or email: cpi@censtatd.gov.hk).

CHP investigates two suspected food poisoning clusters with epidemiological linkage

The Centre for Health Protection (CHP) of the Department of Health (DH) is today (January 9) investigating two epidemiologically linked suspected food poisoning clusters affecting 39 students from two primary schools. The students developed symptoms after consuming lunch provided by the Sailing Boat Luncheon Production Limited. The CHP reminded the public to maintain good personal, food and environmental hygiene to prevent foodborne diseases.

The first cluster involves 12 boys and 16 girls aged between 6 and 11. They attend a primary school in Sham Shui Po. The investigation revealed that the affected students developed abdominal pain and diarrhoea approximately three to 31 hours after eating school lunch containing fish, chicken cutlets, sauce, garnish and rice, which was provided by the abovementioned school lunch supplier on January 6.

While investigating the first cluster, the CHP of the DH traced the supply chain of the school lunch supplier and identified another cluster, involving eight boys and three girls, aged between 10 and 12, who attend a primary school in Diamond Hill. The investigation revealed that the affected students developed abdominal pain and diarrhoea approximately five to 15 hours after eating lunch containing chicken, cervelat sausage, sauce and fusilli at school yesterday (January 8). The food concerned was also provided by the same school lunch supplier.

None of the affected students required hospitalisation and they are all currently in stable condition.

Officers of the CHP and the Food and Environmental Hygiene Department, including personnel of the Centre for Food Safety (CFS) and the Environmental Hygiene Branch, have inspected the food factory of the school lunch supplier concerned and the kitchen of the first school. They inspected the food storage, the food preparation process and environmental hygiene. Investigation revealed that some food items, such as meat and sauce, were prepared at the food factory, while the other food items, such as rice and garnish, were prepared at the school kitchen. It is suspected that some food items were prepared too early in advance. The CFS immediately instructed the premises concerned to suspend operations for thorough cleaning and disinfection, improve food preparation process and hygiene standards. The CFS has provided food safety and environmental hygiene education to the staff. Food and environmental samples were collected for testing.

The investigation of the CHP and CFS is ongoing.

To prevent foodborne diseases, members of the public are reminded to maintain personal, food and environmental hygiene at all times. When dining out, one should:

Avoid eating raw seafood;

Be a discerning consumer in choosing cold dishes, including sashimi, sushi and raw oysters at a buffet;

Choose pasteurised eggs, egg products or dried egg powder for dishes that often use undercooked eggs;

Patronise only reliable and licensed restaurants;

Ensure food is thoroughly cooked before eating during a hotpot or barbecue meal;

Handle raw and cooked foods carefully and separate them completely during the cooking process;

Use two sets of chopsticks and utensils to handle raw and cooked foods;

Avoid patronising illegal food hawkers;

Drink boiled water;

Susceptible populations, including those with weakened immunity, the elderly, pregnant women and young children are at a higher risk of foodborne diseases, so they should not consume raw or undercooked foods;

Refrain from trying to use salt, vinegar, wine or wasabi to kill bacteria as they are not effective; and

Always wash hands before eating and after going to the toilet.

Source: AI-found images