Inflation hits four-month high in June

Due to sharp rise in fresh vegetable prices, among others.

The Census and Statistics Department said Hong Kong's consumer price inflation accelerated to a four-month high in June to 4.1% year-on-year. Inflation rose 3.9% in May.

The underlying inflation rate excluding price changes due to government's one-off measures was 4% in June. This was higher than 3.8 percent recorded in May.

This department said the increase in the core inflation rate can mainly be traced to sharp increases in prices of fresh vegetables and private housing rentals.

Looking ahead, inflation is still subject to modest upside risks in the coming months as the lagged effects of the rise in private housing rentals during 2012 will continue to feed through.

Data showed that food prices increased 4.3% year-on-year in June, while housing costs jumped 6.3% from last year. Prices of electricity, gas and water increased 6.7%.

Transport charges increased 2% annually in June and costs of clothing and footwear rose 1.1%.