Consumer prices dipped 0.1% in February

Underlying inflation rate was 0.7%.

Overall consumer prices fell 0.1% year-on-year in February, the Census & Statistics Department said. Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 0.7%, compared to 2.1% in January.

Year-on-year price decreases were recorded in February for electricity, gas and water, food (excluding meals bought away from home), durable goods, clothing and footwear as well as miscellaneous services.

Year-on-year price increases were recorded for transport, meals bought away from home, alcoholic drinks and tobacco as well as miscellaneous goods.

The department said inflation pressure stayed moderate in early 2017, adding inflation pressure should remain contained in the near term, given the low imported inflation and moderate increases in local costs.