Hong Kong's inflation rises to 2.2% in February

Financial news

Written by: Huang Youhua

2020-03-23 ​​17:50

The Census and Statistics Department announced that the overall consumer price in February was higher than the 1.4% increase in January, and the overall increase was 2.2% year-on-year. Mainly due to the disappearance of the government's payment of public housing rents in January and the exemption of two-thirds of rents of tenants in Type B housing estates by the Housing Society.

Excluding the impact of all government one-off relief measures, the basic inflation rate was 2.5%, which was lower than 3.7% in January. It is believed that this was due to the decline in tourism costs after the Lunar New Year and the narrower increase in the cost of meals going out; Calculated for the first two months combined, the comprehensive consumer price index increased by 1.8% year-on-year, and the corresponding increase was 3.1%.

According to a government spokesman, the inflation data for the first two months of this year are aggregated to eliminate the effects of the Lunar New Year at different times and the increase in the increase in prices of pork and some other basic foods. The basic consumer price inflation rate from December last year 2.9% rose slightly to 3.1%. The price pressure on most major consumer price index components remains mild or mild.

The government expects that inflation will generally remain moderate in the short term. Due to the weak global economy and the recent strengthening of the Hong Kong dollar following the US dollar, external price pressures have eased. At the same time, the sluggish local economic conditions have also eased pressure on local costs. The Government will continue to closely monitor the inflation situation, especially the impact on low-income people.

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Inflation Consumer Statistics Division