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1.8% inflation in October

Overall consumer prices rose 1.8% in October year-on-year, smaller than the 4.4% increase in September, the Census & Statistics Department announced today.   Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 1.7%, slightly less than September's 1.8%.   Compared with October last year, price increases were recorded for electricity, gas and water; clothing and footwear; meals out and takeaway food; basic food; alcoholic drinks and tobacco; transport; miscellaneous services, miscellaneous goods and housing.   On the other hand, a year-on-year decrease in price was recorded for durable goods.    The Government said that underlying consumer price inflation remained moderate in October.   The year-on-year increase in food prices showed some moderation, though remained relatively fast. Prices of clothing and footwear continued to record a visible increase, while those of energy-related items rose sharply. Price pressur

Car phase-out aid deadline extended

    The Environmental Protection Department (EPD) today announced that the deadline for applying for the ex-gratia payment for phasing out Euro IV diesel commercial vehicles (DCVs) will be extended to December 31, 2023.   To improve roadside air quality and better safeguard public health, the EPD launched an ex-gratia payment scheme in 2020 to progressively phase out about 40,000 Euro IV DCVs including goods vehicles, non-franchised buses and light buses by the end of 2027.   Eligible vehicle owners should, during the implementation of the scheme, scrap their Euro IV DCVs through vehicle scrapping companies registered under the scheme. They should then de-register their DCVs with the Transport Department before the deadline. Once the deregistration process is completed, they can apply for the ex-gratia payment within three months.   The EPD explained that it introduced the special arrangement in view of the current economic situation, the operational difficulties faced by transport trades and the fact that some owners of Euro IV DCVs first registered in 2007 might not be able to complete the procedures for applying for the ex-gratia payment by the original deadline on December 31 this year.   Nonetheless, the approval for the ex-gratia payment is still subject to the applicant meeting all other prevailing eligibility criteria, completing all necessary procedures and submitting the application no later than December 31, 2023, the EPD stressed.   Moreover, after December 31, the Government will stop issuing and renewing vehicle licences for owners of Euro IV DCVs first registered in 2007 in accordance with the Air Pollution Control (Air Pollutant Emission)(Controlled Vehicles) Regulation. From 2023, owners of such vehicles who need to apply for a vehicle licence renewal shall seek the EPD’s exemption for extending the deadline.   Call 2651 1100 or email the EPD for details.
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