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HK Mar Composite CPI Up 2.3% YoY, Underlying Inflation Recedes to 2.6%
The Census and Statistics Department (C&SD) released today (April 23) the Consumer Price Index (CPI) figures for March 2020. The year-on-year rate of increase in the Composite ...
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HK Mar Composite CPI Up 2.3% YoY, Underlying Inflation Recedes to 2.6%
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2020/04/23 16:34
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The Census and Statistics Department (C&SD) released today (April 23) the Consumer Price Index (CPI) figures for March 2020. The year-on-year rate of increase in the Composite CPI in March 2020 was 2.3% (vs street consensus of +1.8% YoY), larger than that in February 2020 (2.2%). Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the Composite CPI in March 2020 was 2.6%, also larger than that in February 2020 (2.5%).

The year-on-year rate of increase in the Composite CPI in March 2020 was 2.3%, larger than that in February 2020 (2.2%). Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the Composite CPI in March 2020 was 2.6% (i.e. underlying inflation), also larger than that in February 2020 (2.5%).

A Government spokesman said that the underlying consumer price inflation rate went down from 3.1% for January and February combined to 2.6% in March, as food inflation moderated slightly while price pressures on most other major CPI components showed varying degrees of easing.

Looking ahead, inflation should remain moderate in the near term. Domestic cost pressures have abated amid the austere local economic situation. External price pressures are expected to subside further in view of the global recession and the recent strengthening of the Hong Kong dollar along with the US dollar.
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