Overall consumer prices rose 1.7% year on year in March, more than the 1.5% average rate of increase in January and February, the Census & Statistics Department announced today.
Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1.6% in March, also larger than the average rate of increase in January and February.
Compared with March 2025, year-on-year increases in prices were recorded in the following categories: miscellaneous services; transport; electricity, gas and water; miscellaneous goods; alcoholic drinks and tobacco; basic food; housing; and meals out and takeaway food.
Meanwhile, year-on-year decreases were logged for durable goods as well as clothing and footwear.
The Government said that consumer price inflation accelerated somewhat but stayed moderate in March. The underlying Composite Consumer Price Index rose by 1.6% from a year earlier, up from 1.3% in January and February combined.
It added that the acceleration mainly reflected the faster increases in prices of fuel-related components during the month, amid a surge in international oil prices due to the Middle East conflict.
Meanwhile, price pressures on other components were largely contained.
Looking ahead, the Government said elevated international oil prices will likely continue to gradually feed through to relevant components in consumer prices in the near term, with the final impacts hinging on the evolving situation in the Middle East.
However, the price pressures from other sources generally stay contained, which should help rein in potential upward pressure on overall inflation.
The Government said it has introduced short-term targeted measures to address the recent increase in fuel prices, and will continue to monitor the development closely.