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Hong Kong Inflation At 3-Month High

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Hong Kong’s consumer price inflation rose to the highest level in three months in March, data released by the Census and Statistics Department showed on Friday.

Consumer prices increased 1.7 percent year-on-year in March, following a 1.6 percent rise in February.

Netting out the effects of all government’s one-off relief measures, the underlying inflation also rose to 1.7 percent in March from 1.6 percent in the previous month.

The Lunar New Year between two years occurred in early February this year, but in mid-February last year.

In the first quarter, the composite CPI rose 1.5 percent annually.

“Looking ahead, inflation in many major economies may stay high in the near term amid heightened geopolitical risks and supply and transportation bottlenecks, leading to faster increases in prices of imported items,” a government spokesman said.

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