Hong Kong's consumer prices dropped marginally in February, figures from the Census and Statistics Department showed Tuesday.
The consumer price index edged down 0.1 percent year-over-year in February, reversing a 1.3 percent rise in January.
The underlying inflation, which excludes one-off relief measures of the government, moderated to 0.7 percent in February from 2.1 percent in the previous month.
This slowdown in inflation was mainly attributable to the difference in the timing of the Lunar New Year, which fell in late January this year but in early February last year, resulting in the decreases in the charges for package tours.
Utility costs declined 7.5 percent annually in February and food prices decreased by 3.7 percent. At the same time, transport costs registered an increase of 3.1 percent.
"Looking ahead, inflation pressure should remain contained in the near term, given the low imported inflation and moderate increases in local costs. The Government will continue to monitor the inflation developments closely, particularly its impact on the lower-income people," a government spokesman said.
For comments and feedback: editorial@rttnews.com