The Composite Consumer Price Index slipped 2% last month, more than the 1.6% decrease in January, according to figures released by the Census & Statistics Department today.

The year-on-year decline was mainly due to the different dates of the Lunar New Year over the last two years.

Purchases during the festive period are usually higher, giving a relatively higher base of comparison.

Analysed by sub-index and on a year-on-year comparison, the CPI(A), CPI(B) and CPI(C) fell by 2%, 2.2% and 1.9% respectively last month, also exceeding the corresponding decreases of 1.6%, 1.7% and 1.4% in January.

Renewed declines in package tour charges, inbound and outbound transport services, as well as an enlarged drop in private housing rentals may have contributed to the change.

Meanwhile, the waiver of water and sewage charges continued to carry a downward effect on overall consumer prices.

This has dampened the Composite CPI, CPI(A), CPI(B) and CPI(C) by 0.2%, 0.4%, 0.2% and 0.1% in February.

Electricity, gas and water registered the largest year-on-year decline in prices (-7.7% in the Composite CPI and -10.0% in the CPI(A)).

On the other hand, year-on-year increases in prices were recorded for miscellaneous goods (4.0% in the Composite CPI and 2.0% in the CPI(A)), and alcoholic drinks and tobacco (0.8% in the Composite CPI and 0.5% in the CPI(A)).