Hong Kong: Inflation increases in February
March 20, 2015
Annual inflation rose from 4.1% in January to 4.6% in February. The print overshot the 4.2% that markets had anticipated. According to the Census and Statistics Department, February’s result was driven by higher prices for electricity, gas and water as well as for housing. A government spokesman explained that, “inflation remained on an easing trend in early 2015. Taking the first two months of 2015 together to neutralise the distortions by the difference in timing of the Lunar New Year between this year and last year, the year-on-year rate of the underlying Composite CPI inflation eased to 2.6% from 3.1% in December 2014.”
Consumer prices increased 0.1% in February over the previous month in seasonally-adjusted terms, which matched the result tallied in January. Meanwhile, annual average variation in consumer prices stabilized in February at the previous month’s 4.4%.
Author: Carl Kelly, Economist