China Knowledge quoted report released by the Census and Statistics Department said the consumer price index in the Hong Kong Special Administrative Region rose 3.6%YoY in January after increasing 3.1% in December.
Excluding the effects of the government one off relief measures, the composite CPI increased 3.5% from the same period in 2010 a growth higher than the 2.8% rise in December mainly due to the enlarged increases in the prices of food, private housing rentals as well as the charges for package tours.
Food prices in Hong Kong which took up one-third of the total CPI climbed 8.2% in January. Meanwhile a 3% increase was seen in the prices of housing compared with the same period in 2010. There were a YoY increase of 7% in the prices of electricity, gas and water and 5% increase in the prices of clothing and footwear.
A spokesman said that that the local economy will continue to face higher price pressures in the coming months, due to sustained rises in global food and commodity prices, higher inflation in the import sources, and also the strong local economic conditions.
Excluding the effects of the government one off relief measures, the composite CPI increased 3.5% from the same period in 2010 a growth higher than the 2.8% rise in December mainly due to the enlarged increases in the prices of food, private housing rentals as well as the charges for package tours.
Food prices in Hong Kong which took up one-third of the total CPI climbed 8.2% in January. Meanwhile a 3% increase was seen in the prices of housing compared with the same period in 2010. There were a YoY increase of 7% in the prices of electricity, gas and water and 5% increase in the prices of clothing and footwear.
A spokesman said that that the local economy will continue to face higher price pressures in the coming months, due to sustained rises in global food and commodity prices, higher inflation in the import sources, and also the strong local economic conditions.
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