Hong Kong's consumer price inflation accelerated at a faster-than-expected pace in February, after easing in the previous four months, figures from the Census and Statistics Department showed Friday.
The consumer price index climbed 4.6 percent year-over-year in February, faster than January's 4.1 percent decline. Economists had forecast the inflation to rise to 4.2 percent.
Excluding one-off effects, the core inflation increased to 2.8 percent in February from 2.3 percent in January.
Utility costs surged 21.8 percent in February from the previous year and housing costs grew by 8.2 percent.
"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 Compsite CPI inflation eased to 2.6 percent from 3.1 percent in December 2014," a government spokesman said
"Looking ahead, the mild imported inflation and moderate local cost pressures should continue to contain price pressures in the near term. The Government will continue to monitor the inflation developments closely, particularly its impact on the lower-income people."
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