The Government has welcomed the MTR Corporation's announcement today that its overall fare adjustment will be revised downward from 2.7% to 2.65%.
The revision was made in light of the 2014/15 Household Expenditure Survey findings and the rebased year-on-year change in the Composite Consumer Price Index in December last year, as adjusted by the Census & Statistics Department.
It is a technical adjustment. The MTR's fare adjustment is still made in accordance with the fare adjustment mechanism based on the Nominal Wage Index (Transportation Section) in December of the previous year and the Productivity Factor set at 0.6% from 2013 to 2017.