RTTNews - Tuesday, a report from the Census and Statistics Department said Hong Kong's composite consumer price index dropped 0.9% in June from the previous year. Economists were looking for a decline of 0.5%. This annual rates of change were affected by various one-off relief measures taken by the Government, especially the implementation of electricity charge subsidy.

Netting out the effects of all Government's one-off relief measures, the composite CPI registered an annual increase of 0.4% in June, smaller than May's 1.3%, mainly due to the moderation in increases in food prices and private housing rentals.

For the first half of 2009, the composite index rose 0.8%, while netting out the effects of government's relief measures, prices moved up 2.1%. At the same time, overall prices dropped 0.1% in the second quarter on a yearly basis.

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