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Financial News: Hong Kong Consumer Price Inflation Increases In March

Hong Kong Consumer Price Inflation Increases In March

04/23/2021 - 07:31:00 (RTTNews)

(RTTNews) - Hong Kong's consumer prices increased in March, data from the Census and Statistics Department showed on Friday.

The composite consumer price index rose 0.5 percent year-on-year in March, following a 0.3 percent increase in February.

Excluding the effects of all government one-off relief measures, the composite consumer price index increased 0.2 percent yearly in March, after a 0.1 percent decline in the previous month.

In the first quarter, consumer prices rose 0.9 percent yearly.

The underlying consumer prices reverted to a small yearly increase of 0.2 percent in March, mainly due to a faster increase in food prices, a government spokesman said.

"Yet, private housing rentals fell further, while price pressures on other major CPI components remained tame," spokesman added.

"Looking ahead, overall price pressures should stay mild in the near term, as global and local economic activities have yet to fully recover from the earlier deep recession," spokesman said.

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