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Financial News: Hong Kong Inflation Rises In February

Hong Kong Inflation Rises In February

03/23/2020 - 04:49:00 (RTTNews)

(RTTNews) - Hong Kong's consumer price inflation rose in February after easing in the previous month, data from the Census and Statistics Department showed on Monday.

The consumer price index rose 2.2 percent year-on-year in February, after a 1.4 percent increase in January. In December, inflation was 2.9 percent.

Excluding the effects of all government's one-off relief measures, core inflation was 2.5 percent in February, after a 3.7 percent rise in the previous month.

In the first two months of 2020 together to neutralize the distortions by the timing of the Lunar New Year, mainly due to larger increases in prices of pork and some other basic foodstuffs, a government spokesman said.

"Looking ahead, inflation should remain largely moderate in the near term."

"External price pressures have receded amid a weak global economy and the recent strengthening of the Hong Kong dollar along with the US dollar, while the subdued local economic conditions should keep domestic cost pressures at bay."

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