HK inflation eases
21-03-2009
The latest government figures show that inflation slowed to 0.8 percent last month - as a deepening economic downturn and the timing of the Lunar New year holiday cooled consumer spending. The figure for January - when the holiday fell - was 3.1 percent. A government spokesman said the lower inflation reflected the flexibility of local costs and prices to adjust in response to the economic downturn. And he predicted that inflationary pressure would recede further. The government is predicting that full year inflation will be 1.6 percent.
