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HK's CPI up 4.1 pct in 2012


09:05, January 22, 2013

HONG KONG, Jan. 21 (Xinhua) -- Hong Kong's Composite Consumer Price Index (CPI) rose by 4.1 percent year on year in 2012, the city's Census and Statistics Department said on Monday.

According to the Department, the city's overall consumer prices rose by 3.7 percent year on year in December, matching November's figure.

After netting out the effects of the Government's one-off relief measures, the year-on-year 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 increases 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.

However, international food and commodity prices' volatility amid the global liquidity glut, coupled with the pick-up in local housing rentals since the early part of 2012, may pose some upside risks to inflation.

The Government will continue to monitor the inflation situation, particularly its impact on lower-income people, he added.

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