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Written by: Huang Weilun
2020-02-21 14:32
Last updated: 2020-02-21 14:32The Census and Statistics Department released the consumer price index for January 2020. After excluding the effects of one-off relief measures of all governments, the basic inflation rate was 3.7%, which was 0.8 percentage points higher than that of December 2019. Among them, the largest increase in food, Up to 17%. A government spokesman explained that this was mainly due to the increase in travel expenses and pork prices during the Lunar New Year. The spokesman also said that although the pneumonia epidemic in Wuhan may increase the prices of some commodities, the interference should be short-lived.
The Census and Statistics Department released the Consumer Price Index for January 2020. After excluding the effects of one-off relief measures from all governments, the basic inflation rate was 3.7%. (Profile picture)
According to the Census and Statistics Department, the overall consumer price in January 2020 increased by 1.4% year-on-year, but was lower than the corresponding increase in December 2019, and fell by 1.5 percentage points. A government spokesman believes that the decline was due to the government paying public housing rents in January, the HS also exempted two-thirds of rents for tenants in category B housing estates, and the government began to provide additional electricity subsidies that month.
However, excluding the impact of all government one-off relief measures, the Census and Statistics Department said that the basic inflation rate in January increased by 3.7% year-on-year, which was 0.8 percentage point higher than the 2.9% in December 2019. According to the Statistics Department, the prices of food (excluding meals away from home) increased by 17% year-on-year, miscellaneous services increased by 4.8%, miscellaneous goods increased by 3.6%, and transportation increased by 1.8% in January. In terms of decline, electricity, gas and water fell 16%, clothing and footwear fell 5.5%, housing fell 3%, durable goods fell 2.7%, and tobacco and alcohol fell 1.5%.
A government spokesman said that the inflation rate rose to 3.7% because the Lunar New Year ended in January this year, and last year was in early February. Travel expenses and basic food prices increased during the New Year, distorting the year-on-year comparison. The spokesman said that waiting for February's inflation data and then combining the two to analyze the situation can more effectively assess the basic inflation situation.
The spokesman also said that looking forward to the future, the external price pressure is mild and the local economic situation is weak, which is expected to control the overall inflation pressure in the short term. Although the new coronavirus epidemic may increase the prices of some commodities, the interference should only be temporary and the government will continue Watch for inflation, especially the impact on low-income people.
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