Growth in the city’s composite consumer price index (CPI) continued to slow down last month, rising just 2.08 per cent year-on-year, a decrease of 0.18 percentage points from the 2.26 per cent growth in June, the Statistics and Census Bureau (DSEC) announced on Monday.
A DSEC statement attributed last month’s increase mostly to higher rentals for parking spaces and the higher cost of eating out, as well as increases in car prices and property management fees.
For the 12 months ended last month, the average composite CPI rose by 3.45 per cent from the previous period. The price index of alcoholic beverages and tobacco increased by 36.20 per cent during the 12-month period.
The average composite CPI for the first seven months of the year increased by 3.0 per cent year-on-year.