Overall consumer prices in Hong Kong rose 2.4 percent in March over the same month last year, as compared with a 0.8 percent rise in February, the Census and Statistics Department of Hong Kong said here Monday in its monthly report.

The Census and Statistics Department said the bigger rise was mainly due to the waiver of public housing rentals by the Housing Authority and Housing Society in February.

Netting out the waiver's effect, the rate of consumer price inflation in March was similar to that in the preceding two months combined, according to the department.

The Census and Statistics Department said increasing price pressures from the external front are expected, given the recent weakening of the U.S. dollar.

But overall inflationary pressures should be cushioned by continued distinct growth in labor productivity. The rates waiver for two quarters and other one-off factors in the Hong Kong Special Administrative Region government's annual budget will also keep headline inflation down in the coming months.

Source: Xinhua