Hong Kong's Composite CPI increases 4.1% last year

HONG Kong's Composite Consumer Price Index rose by 4.1 percent year on year in 2012, the city's Census and Statistics Department said.

The city's overall consumer prices rose by 3.7 percent annually in December, matching November's figure, according to the department yesterday.

After netting out the effects of the government's one-off relief measures, the annual rate of increase in the Composite CPI in December was 3.8 percent, also matching November's figure.

For 2012 as a whole, the Composite CPI was on average 4.1 percent higher than in the preceding 12-month period. The corresponding rises after netting out the effects of all government's one-off relief measures were 4.7 percent.

A government spokesman said that inflationary pressures are still likely to be largely contained in the near term, given the recent moderate increase in import prices and the economy's sub-par performance.

The government will monitor the inflation situation, he added.

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