Hong Kong Consumer Prices Rebound In March
(RTTNews) - Hong Kong's consumer prices increased in March, after falling slightly in the previous month, figures from the Census and Statistics Department showed Friday.
The consumer price index rose 0.5 percent year-over-year in March, reversing a 0.1 percent drop in February.
However, it was slightly slower than the 0.6 percent average rate of increase in January and February,
The underlying inflation, which excludes one-off relief measures of the government, accelerated to 1.3 percent in March from 0.7 percent in the previous month.
Transport costs grew 3.1 percent annually in March and prices of miscellaneous goods climbed by 2.0 percent. Meanwhile, utility costs dropped 1.2 percent.
During the first quarter of this year, the composite consumer price index went up 0.5 percent over a yea earlier.
"The lower inflation rate in March compared with the average rate in January and February was mainly attributable to the slower increase in food prices and to the timing of the Easter holidays, which fell in mid-April this year but in late March last year, resulting in a notable year-on-year decrease in the charges for package tours in March," a government spokesman said.