Consumer prices in Hong Kong rose 3.9 percent in March compared to the same period last year. The rate of increase was smaller than the avert rate of increase in January and February, the Census and Statistics Department (C&SD) reported.
The year-on-year rate of increase in the Composite CPI was 3.6 percent in March 2014 and was also smaller than the average rate of increase in January and February 2014 (4 percent).
On a seasonally adjusted basis, the C&SD said the average monthly rate of increase in the Composite CPI for the 3-month period from January to March 2014 was 0.3 percent, the same as that for the 3-month period from December 2013 to February 2014.
Among the various CPI components, year-on-year increases in prices were recorded in March include: alcoholic drinks and tobacco (7.2 percent), mainly due to the increase of tobacco duty; housing (5.4 percent); electricity, gas and water (4.8 percent); food, excluding meals bought away from home) (4.8 percent); meals bought away from home (4.4 percent); miscellaneous goods (3.3 percent); miscellaneous services (2.8 percent); clothing and footwear (2.5 percent); and transport (1.5 percent).
Meanwhile, the underlying inflation in the first quarter of this year averaged 3.8 percent, which was lower than the 4 percent recorded in the fourth quarter of 2014.