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March inflation in Hong Kong stands at 4.9%

2012/04/23 22:15:00

Hong Kong, April 23 (CNA) Hong Kong's inflation rate in March this year stood at 4.9 percent, but it would be much higher if the count did not include government's relief measures to poor people.

According to official figures released Monday, the consumer price index (CPI) for March this year rose by 4.9 percent over the same period of last year.

The figure was lower than the average 5.4 percent increase in January and February this year.

However, netting out the effects of all government's one-off relief measures, the CPI growth in March this year was 5.6 percent over the same month last year.

But with the same comparison, it was still lower than the average rate of 6.1 percent increase in January and February this year.

A government spokesman expected the inflation rate to go down further, with imported inflation getting lower and a slower local economy.

Hong Kong's inflation rate had remained in its peak in the last several years. Thus, the government had provided one-off financial aids each year to poor people, like tax deductions.

(By Stanley Cheung)