Overall consumer prices rose 2.1% in February year-on-year, larger than the increase registered in January.

Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1.2%, also higher than January.

As the Lunar New Year fell in February this year but in January last year, the year-on-year comparison of the figures for January and February 2024 might have been affected by this factor to a certain extent.

Taking the first two months of 2024 together to neutralise the Lunar New Year effect, overall consumer prices rose by 1.9% over a year earlier. Netting out the effect of the Government's one-off relief measures, the corresponding increase was 0.9%.

Compared with February last year, price increases were seen in the following categories: alcoholic drinks and tobacco; meals out and takeaway food; miscellaneous services; housing; transport; clothing and footwear; and miscellaneous goods.

By contrast, year-on-year decreases for electricity, gas and water, durable goods, and basic food were recorded.