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Hong Kong's Jan. Annual Inflation Exceeds Forecast

Tuesday, 21 February 2012 | 00:00
Hong Kong's annual inflation rose more than expected in January, the Census and Statistics Department said Monday.
The composite consumer price index climbed 6.1 percent in January from a year ago, faster than December's 5.7 percent growth and 5.8 percent rise forecast by economists.
Netting out the effects of all government's one-off relief measures, the year-on-year rate of increase in the composite CPI in January was 6.7 percent, also larger than the 6.4 percent growth logged in December.
A Government spokesman said the increase in annual rate after holding stable for four straight months was mainly attributable to the difference in the timing of the Lunar New Year, which fell in late January this year but in early February last year.
Source: RTT News
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