Hong Kong's overall consumer price inflation stayed moderate in June, mainly due to smaller subsidies for electricity charges in the same month last year compared with May 2024, the government said.

Figures released by the Census and Statistics Department on Monday showed that the composite consumer price index, a key gauge measuring the city's overall inflation, increased by 1.4 percent year on year in June.

That was smaller than the 1.9 percent increase in May.

It was also lower than a 1.7 percent rise anticipated by the markets.

The underlying inflation rate, or the rate netting out the effects of all government's one-off relief measures, meanwhile, rose by 1 percent, the same as that in May.

While the highest price spikes were seen in housing, up 2.8 percent, prices of transport climbed 1.9 percent and electricity, gas and water were up 1.6 percent.

Prices for clothing and footwear declined the most at 4.1 percent, while that for durable goods retreated 2.5 percent.

Commenting on the figures, a government spokesperson said consumer price inflation stayed modest in June as price pressures on various major products were "contained".

"Looking ahead, overall inflation should remain modest in the near term, as pressures from domestic costs and external prices should stay broadly in check," the spokesperson added.

For the first half of the year as a whole, the overall inflation rate increased by 1.7 percent year on year.