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Financial News: Hong Kong Inflation Rises In March

Hong Kong Inflation Rises In March

04/23/2018 - 05:31:00 (RTTNews)

(RTTNews) - Hong Kong's consumer price inflation accelerated in March, the Census and Statistics Department said Monday.

Consumer prices climbed 2.6 percent year-on-year in March, faster than the 2.4 percent increase in January to February period. This was also faster than the 2.5 percent rise economists had forecast.

In order to neutralize the effect of timing of the Lunar New Year between two years, consumer prices for the January and February were averaged.

Netting out the effects of all government's one-off relief measures, underlying inflation in March was 2.6 percent, also larger than the average rate of increase in January and February period of 2.3 percent, mainly due to the enlarged increases in the charges for package tours.

The slightly faster increase in March was mainly due to an earlier arrival of the Easter holidays that began in late March this year, which resulted in a surge in charges for package tours on a year-on-year basis.

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