Consumer prices in Hong Kong rose 3.2 percent year on year in January with an increase as high as 15.6 percent in food prices.

A government spokesman attributed the rise mainly to increased food prices but said its rate cut measure provided some relief and helped bring down the headline inflation.

"The recent build-up of inflationary pressures reflected to a certain extent the strong consumption demand supported by the vibrant economic growth over the past few years," he said.

"From a broader perspective, rising food and energy prices had led to rising inflationary pressures in many parts of the world," he added.

The spokesman also said the snowstorms on the Chinese mainland, which had disrupted food supplies in January, would continue to have an impact on food prices in February.

The appreciation of the Chinese yuan and weakening of the Hong Kong dollar, which is pegged to the US dollar, would continue to pose upside risks, he said, adding that the recent upward trend in private housing rentals deserved monitoring.

Food prices excluding meals bought away from home in January shot up 15.6 percent, with a surge of 48.2 percent for pork, 41.4 percent for beef, 34.7 percent for canned meat, 22.7 percent for other meat and 20.1 percent for fresh vegetables. The price for electricity, gas and water went up seven percent while durable goods declined 3.4 percent year on year.