Hong Kong Inflation Eases In February

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Hong Kong’s consumer prices increased in February, albeit at a softer pace, data from the Census and Statistics Department showed on Monday.

The composite consumer price index rose 0.3 percent year-on-year in February, after a 1.9 percent increase in January.

Excluding the effects of all government one-off relief measures, the composite consumer price index decreased 0.1 percent yearly in February, following a 0.5 percent decline in the previous month.

“Taking the first two months of 2021 together to neutralize the distortions caused by the timing of the Lunar New Year, underlying consumer prices registered a small year-on-year decline of 0.3 percent, mainly reflecting the narrowed increase in food prices and the enlarged fall in private housing rentals,” a government spokesman said.

“Looking ahead, as it will take time for global and local economic activities to return to pre-recession levels, price pressures should stay mild in the near term,” spokesman said.

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