Hong Kong's overall inflation rate for 2022 stands at 1.9pc

Hong Kong's inflation rate for last December rose to 2 percent from 1.7 percent the month before, with the overall inflation rate standing at 1.9 percent for the whole year of 2022.

According to latest data released by the statistics department, the year-on-year increase in the underlying inflation rate in December 2022 was 2 percent, larger than 1.7 percent recorded in November.

The overall consumer prices also rose by 2 percent in December 2022 over the same month a year earlier, larger than the corresponding increase of 1.8 percent in November 2022.

“The larger increase was mainly due to the increases in the prices of fresh vegetables as well as the smaller decreases in the charges for information and communications services,” the department explained.

“For 2022 as a whole, the underlying inflation rate was 1.9 percent higher than that in the preceding year,” it also said.

A government spokesman said that the underlying consumer price inflation rate remained moderate in December 2022, though showing some increase from the preceding month mainly due to a surge in fresh vegetable prices.

“Prices of energy-related items soared further year-on-year, and those of clothing and footwear as well as food continued to increase visibly.

“But price pressures on other major components remained broadly in check.”