Hong Kong: Inflation inches down in March
April 21, 2015
Inflation inched down from 4.6% in February to 4.5% in March. The print was in line with the 4.5% that the markets had expected. According to the Census and Statistics Department, March’s result was driven by higher prices for electricity, gas and water as well as for housing. A government spokesman explained that, “inflationary pressure remained contained in recent months, with the year-on-year rate of change in underlying Composite CPI receding from 3.3% in the fourth quarter of 2014 to 2.7% in the first quarter of 2015, thanks to the abating imported inflation and moderate domestic cost pressures.”
Consumer prices increased 0.2% in March over the previous month in seasonally-adjusted terms, inching up from the 0.1% increase tallied in February. Meanwhile, annual average variation in consumer prices rose from 4.4% in February to 4.5% in March, marking the highest value in over two years.
Author: Eric Denis , Economist