Hong Kong Feb Composite CPI down 2.1 pct yr-on-yr; CPI B down 2.2 pct

HONG KONG (AFX-ASIA) - The February Composite CPI fell 2.1 pct year-on-year after a fall of 1.2 pct in January, the Census and Statistics Department said.	    CPI A was down 1.9 pct after a fall of 1.0 pct in January, with CPI B down 2.2 pct after a fall of 1.3 pct.	    The government said the larger year-on-year decrease in CPI in February mainly reflected the Lunar New Year, which fell in January this year but in February last year. 	    The prices of basic foodstuffs, outbound transport fares and charges for package tours all eased back in February, shortly after the Lunar New Year holidays. 	    Also contributing was a decrease in electricity charges, consequential to a special one-off rebate by a power company.	    These factors more than offset the effects of a further narrowing in the decline of private housing rentals and an upward adjustment in residential telephone service charges, it said.	    For the first two months of the year, Composite CPI was down 1.6 pct, with CPI A down 1.4 pct and CPI B down 1.8 pct.	    For February alone, fuel and light registered the largest year-on-year decrease of 13.0 pct in the Composite CPI and 17.1 pct in CPI A, with clothing and footwear down 7.7 pct and 7.8 pct, housing 3.5 pct and 2.9 pct, food (excluding meals bought away from home) was down 3.0 pct and 3.3 pct, durable goods 2.4 pct and 2.0 pct, and meals bought away from home fell 0.3 pct and 0.6 pct.	    Increases were recorded in miscellaneous goods, up 2.1 pct and 3.5 pct, alcoholic drinks and tobacco rose 1.1 pct and 0.9 pct, transport 0.5 pct and 0.7 pct and miscellaneous services were up 0.2 pct and 1.8 pct.	    For the three months to February, the Composite CPI was down 1.7 pct year-on-year, with CPI A down 1.4 pct and CPI B down 1.8 pct.

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