Inflation slows in February

One-off government relief measures helped tame inflation in February.

The Census & Statistics Department said inflation rose 4.7% in February over the same month last year. The inflation rate was 6.1% this January.

The department said factoring out the effects of all the government's one-off relief measures pushed the underlying inflation rate to 5.4% in February. This figure, however, compares favorably to January's 6.7%.

Underlying consumer price inflation fell to 6.1%, due to slower increases in food prices and private housing rents.

In February, year-on-year prices increases were recorded for alcohol and tobacco (16%); housing (8.1%); food (excluding meals bought away from home) (7.9%); meals bought away from home (6%); clothing and footwear (5.4%); transport (4.2%); miscellaneous goods (3.8%) and miscellaneous services (0.5%).

Year-on-year price falls were recorded for electricity, gas and water (-17.4%), and durable goods (-1.8%).

The department expects inflation to drop over the course of 2012.