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Hong Kong Inflation Rate Slows to 0.3%
The annual inflation rate in Hong Kong fell sharply to 0.3 percent in February of 2021 from a 9-month high of 1.9 percent in January. Still, the year-on-year rise in the CPI is due to a low base of comparison arising from the government's payment of public housing rentals and waiver of two-thirds of rent. Netting out the effects of all Government's one-off relief measures, the year-on-year change was -0.1 percent, compared to -0.5 percent in January. Price increases in February were seen for electricity, gas and water (19.3 percent); food (excluding meals bought away from home) (1.5 percent); miscellaneous services (1.2 percent) and meals bought away from home (0.2 percent). On the other hand, decreases were recorded for clothing and footwear (-3.9 percent), transport (-2.9 percent), durable goods (-1.7 percent), alcoholic drinks and tobacco (-0.9 percent), housing (-0.2 percent) and miscellaneous goods (-0.1 percent).
Published on 2021-03-22

Hong Kong Inflation Rate at 9-Month High
Annual inflation rate in Hong Kong jumped to 1.9% in January of 2021, the first rise in CPI in 7 months. The increase was mainly due to a low base of comparison from the Government's payment of public housing rentals and waiver of two-thirds of rent for tenants in January last year. Netting out the effects of all Government's one-off relief measures, the year-on-year rate of change in CPI was -0.5%. Main price increases were seen in electricity, gas and water (19.1%); housing (6.1%); alcoholic drinks and tobacco (2.5%) as well as miscellaneous goods (0.8%) while falls were recorded for transport (-3.1%); clothing and footwear (-2.6%); durable goods (-1.8%); meals bought away from home (-0.8%); food (excluding meals bought away from home) (-0.3%) and miscellaneous services (-0.2%).
Published on 2021-02-22

Hong Kong Consumer Prices Fall For 6th Month
Hong Kong consumer prices fell 0.7 percent from a year earlier in December of 2020, marking the sixth straight month of deflation amid subdued demand conditions. Downward pressure came from prices of electricity, gas and water (-30 percent); clothing and footwear (-5.9 percent); durable goods (-2.6 percent); transport (-2.1 percent) and miscellaneous services (-0.1 percent). On the other hand, prices increased for food, excluding meals bought away from home (2.2 percent), alcoholic drinks and tobacco (1.7 percent), miscellaneous goods (1.4 percent) and housing (0.3 percent). Meantime, cost was flat for meals bought away from home. Looking ahead, overall price pressures should remain very mild in the near term as global and local economic conditions are still challenging amid the continued threat of COVID-19, a Government spokesman said.
Published on 2021-01-21

Hong Kong Consumer Prices Fall For a 5th Month
Hong Kong consumer prices fell 0.2 percent from a year earlier in November 2020, the fifth consecutive month of decline amid subdued economic conditions. Cost was down for electricity, gas and water (-21.6 percent), clothing and footwear (-5.5 percent), durable goods (-2.3 percent), and transport (-1.9 percent). Meantime, prices increased for food excluding meals bought away from home (2.8 percent), alcoholic drinks and tobacco (1.6 percent), miscellaneous goods (1.3 percent), meals bought away from home (1.0 percent), housing (0.5 percent) and miscellaneous services (0.1 percent). Looking ahead, overall inflationary pressures are likely to stay very mild in the near term as global and local economic conditions remain clouded by the threat of COVID-19, a Government spokesman said.
Published on 2020-12-21

Hong Kong Deflation Softens Sharply in October
Consumer prices in Hong Kong fell 0.2 percent year-on-year in October of 2020, the smallest decrease in four months, as the effect of the waiver of public housing rentals by Hong Kong Housing Authority in September dissipated in October. Main declines were recorded for electricity, gas and water (-21.4 percent); clothing and footwear (-5.5 percent); durable goods (-2.7 percent) and transport (-1.8 percent) while rises were seen in cost of food (3.2 percent), miscellaneous goods (1.5 percent), meals bought away from home (0.9 percent), housing (0.5 percent), alcoholic drinks and tobacco (0.5 percent) as well as miscellaneous services (0.1 percent). " Looking ahead, overall inflationary pressures should stay tame in the near term as the evolving COVID-19 pandemic still weighs on the global and local economic conditions", a Government spokesman said.
Published on 2020-11-20

Hong Kong Consumer Prices Drop for 3rd Month
Consumer prices in Hong Kong dropped 2.2 percent year-on-year in September 2020, following a 0.4 percent fall in the previous month. It was the third successive decline in consumer prices, mainly due to the waiver of public housing rentals by Hong Kong Housing Authority. Cost of housing fell (-5.3% vs 0.6% in August); and prices of electricity, gas & water decreased further (-19.8% vs -19.3%). Also, prices slowed for miscellaneous goods (1.9% vs 2.9%); and services (0.6% vs 0.7%). On the other hand, cost went down less for transport (-2.1% vs -2.4%); for durable goods (-3% vs -4.2%); and clothing & footwear (-7% vs -7.6%). In addition, cost of food rose at a faster pace (1.6% vs 0.5%), of which meals bought away from home (0.6% vs -1.3%). On a monthly basis, consumer prices went down 1.8 percent.
Published on 2020-10-22

Hong Kong Consumer Prices Fall at a Softer Pace in August
Consumer prices in Hong Kong fell 0.4 percent year-on-year in August 2020, following a 2.3 percent drop in the previous month. It was the second consecutive decline in consumer prices, albeit at a softer pace as the effect of the Government's payment of public housing rentals and waiver of two-thirds of rent for tenants of Group B estates by Hong Kong Housing Society in July dissipated in August. Cost of housing rebounded (0.6% vs -4.8% in July); while prices of transport declined less (-2.4% vs -3.7%). Also, cost advanced at a faster pace for miscellaneous goods (2.9% vs 2.3%); and services (0.7% vs 0.6%). In contrast, food prices eased (0.5% vs 0.8%), of which meals bought away from home (-1.3% vs -1.1%); and cost fell further for electricity, gas & water (-19.3% vs -18.6%); durable goods (-4.2% vs -3.2%) and clothing & footwear (-7.6% vs -4.7%). On a monthly basis, consumer prices went up 2 percent.
Published on 2020-09-21

Hong Kong Consumer Prices Fall for 1st Time in 3 Years
Consumer prices in Hong Kong dropped 2.3 percent year-on-year in July 2020, following a 0.7 percent rise in the previous month. It was the first decline in consumer prices since February 2017, mainly due to the government's payment of public housing rentals and waiver of two-thirds of rent for tenants of Group B estates by Hong Kong Housing Society. Cost fell for housing (-4.8 percent vs 1.4 percent in June); transport (-3.7 percent vs a flat reading); and electricity, gas & water (-18.6 percent, the same as in June). In addition, prices slowed for food (0.8 percent vs 2.7 percent), of which meals bought away from home (-1.1 percent); miscellaneous goods (2.3 percent vs 2.7 percent); and miscellaneous services (0.6 percent vs 0.8 percent). Meanwhile, prices dropped less for durable goods (-3.2 percent vs -3.5 percent) and clothing & footwear (-4.7 percent vs -5.3 percent). On a monthly basis, consumer prices went down 2.5 percent, after falling 0.1 percent in the prior month.
Published on 2020-08-20

Hong Kong Inflation Rate Falls to Over 3-Year Low in June
The annual inflation rate in Hong Kong fell to 0.7 percent in June 2020 from 1.5 percent in the previous month and below market expectations of 1.7 percent. It was the lowest inflation rate since March 2017, as prices slowed for food (2.7 percent vs 4.8 percent in May), in particular pork; housing (1.4 percent vs 1.6 percent); and miscellaneous goods (2.7 percent vs 2.9 percent). Additionally, cost of durable goods dropped further (-3.5 percent vs -2.8 percent), while transport prices were unchanged, after rising 0.6 percent in May. On the other hand, cost of miscellaneous services advanced at a faster pace (0.8 percent vs 0.7 percent). Also, prices declined less for electricity, gas & water (-18.6 percent vs -19.4 percent); and clothing & footwear (-5.3 percent vs -5.4 percent). On a monthly basis, consumer prices went down 0.1 percent, following a 0.4 percent drop in the prior month.
Published on 2020-07-21

Hong Kong Inflation Rate Eases to 4-Month Low in May
The annual inflation rate in Hong Kong dropped to 1.5 percent in May 2020 from 1.9 percent in the previous month. Prices slowed for food (4.8 percent vs 6 percent in April), namely pork and fresh vegetables; housing (1.6 percent vs 1.8 percent), in particular private housing rentals; miscellaneous goods (2.9 percent vs 3.5 percent); and miscellaneous services (0.7 percent vs 0.9 percent). Additionally, cost declined further for electricity, gas & water (-19.4 percent vs -18.8 percent); and clothing & footwear (-5.4 percent vs -4.4 percent). In contrast, prices rose at a faster pace for transport (0.6 percent vs 0.1 percent) while cost of durable goods fell less (-2.8 percent vs -3.1 percent). On a monthly basis, consumer prices went down 0.4 percent, after a 0.3 percent increase in the prior month.
Published on 2020-06-22

Hong Kong April Inflation Rate Slows to 3-Month Low of 1.9%
The annual inflation rate in Hong Kong fell to 1.9 percent in April 2020 from 2.3 percent in the previous month. Prices eased for transport (0.1 percent vs 1.1 percent in March), due to lower international oil prices; housing (1.8 percent vs 2.6 percent); miscellaneous goods (2.9 percent vs 3.5 percent); miscellaneous services (0.9 percent vs 1.1 percent). In addition, cost declined further for electricity, gas & water (-18.8 percent vs -16.1 percent); clothing & footwear (-4.4 percent vs -4 percent); and durable goods (-3.1 percent vs -2.4 percent). On the other hand, cost of food increased at a faster pace (6 percent vs 5.7 percent). On a monthly basis, consumer prices went up 0.3 percent, rebounding from a 0.2 percent decline in the prior month.
Published on 2020-05-21

Hong Kong Inflation Rate Rises to 2.3% in March
The annual inflation rate in Hong Kong rose to 2.3 percent in March 2020 from 2.2 percent in the previous month. Transport prices increased further (1.1 percent from 1 percent in February); and cost of miscellaneous services rebounded (1.1 percent from -1.3 percent). In contrast, prices slowed for food (5.7 percent from 6.2 percent); housing (2.6 percent from 2.7 percent); and miscellaneous goods (3.5 percent from 4.3 percent). Additionally, cost dropped at a faster pace for electricity, gas & water (-16.1 percent from -15.9 percent); and clothing & footwear (-4 percent from -3.1 percent). Also, durable goods prices continued to fall (-2.4 percent, the same as in February). On a monthly basis, consumer prices went down 0.2 percent, after rising 1.7 percent in the prior month.
Published on 2020-04-23

Hong Kong Inflation Rate Rises to 2.2% in February
The annual inflation rate in Hong Kong rose to 2.2 percent in February 2020 from 1.4 percent in the previous month, but below market expectations of 3.1 percent. Cost of housing rebounded (2.7 percent from -3.0 percent in January), as the effect of the Government's payment of public housing rentals and waiver of two-thirds of rent for tenants of Group B estates by Hong Kong Housing Society faded. Also, cost of miscellaneous goods advanced further (4.3 percent vs 3.6 percent), while fell less for electricity, gas & water (-15.9 percent vs -16 percent); durable goods (-2.4 percent vs -2.7 percent) and clothing & footwear (-3.1 percent vs -5.5 percent). In contrast, cost slowed for food (6.2 percent vs 7.4 percent) and transport (1 percent vs 1.8 percent). Additionally, prices of miscellaneous services dropped (-1.3 percent vs 4.8 percent). On a monthly basis, consumer prices went up 1.7 percent, after a 1.6 percent fall in January.
Published on 2020-03-23

Hong Kong Inflation Rate Lowest Since 2017
Annual inflation rate in Hong Kong edged down to 1.4 percent in January of 2020 from 2.9 percent in the previous month. It was the lowest inflation rate since September of 2017, as prices dropped for housing (-3.0 percent vs 3.0 percent in December); electricity, gas & water (-16.0 percent vs -6.6 percent); durable goods (-2.7 percent vs -2.2 percent) and clothing & footwear (-5.5 percent vs -3.1 percent). On the other hand, cost advanced faster for food (7.4 percent vs 6.1 percent), particularly for meals bought away from home (2.2 percent vs 2.0 percent); transport (1.8 percent vs 1.6 percent); and both miscellaneous services (4.8 percent vs 1.6 percent) and miscellaneous goods (3.6 percent vs 3.4 percent). On a monthly basis, consumer prices dropped 1.6 percent, after increasing 0.3 percent in December.
Published on 2020-02-20

Hong Kong Inflation Rate Slows to 7-Month Low
The annual inflation rate in Hong Kong dropped to 2.9 percent in December of 2019 from 3.0 percent in the previous month. It was the lowest inflation rate since May, as prices slowed for food (6.1 percent vs 6.3 percent in November), particularly for meals bought away from home (2.0 percent vs 2.2 percent); transport (1.6 percent vs 2.1 percent) while electricity, gas and water cost continued to drop (-6.6 percent vs -6.4 percent). On the other hand, housing inflation was steady (at 3.0 percent) while prices advanced faster for miscellaneous services (1.6 percent vs 1.5 percent), mainly educational (3.2 percent vs 3.1 percent) and medical services (2.8 percent vs 2.7 percent); and miscellaneous goods (3.4 percent vs 3.3 percent). In addition, cost fell at a softer pace for durable goods (-2.2 percent vs -2.3 percent) and clothing & footwear (-3.1 percent vs-3.5 percent). On a monthly basis, consumer prices rose 0.1 percent, the same as in the previous month.
Published on 2020-01-21

Hong Kong Inflation Rate at 6-Month Low
The annual inflation rate in Hong Kong edged down to 3 percent in November 2019 from 3.1 percent in the previous month, reaching its lowest level since May. Prices slowed mostly for housing and miscellaneous services.
Published on 2019-12-20

Hong Kong Inflation Rate at 5-Month Low of 3.1%
The annual inflation rate in Hong Kong dropped to 3.1 percent in October of 2019 from 3.2 percent in the previous month and below market expectations of 3.3 percent. It was the lowest inflation rate since May, as housing cost continued to slow.
Published on 2019-11-21

Hong Kong Inflation Rate Slows to 4-Month Low
The annual inflation rate in Hong Kong dropped to 3.2 percent in September of 2019 from 3.5 percent in the previous month. It was the lowest inflation rate since May as prices grew less for housing, food and transport and continue to decline for durable goods, clothing & footwear, electricity, gas and water and alcoholic drinks and tobacco.
Published on 2019-10-22

Hong Kong August Inflation Rate Rises to 3-Year High
The annual inflation rate in Hong Kong rose to 3.5 percent in August 2019 from 3.3 percent in the previous month. It was the highest inflation rate since August 2016, mainly boosted by food and transport prices.
Published on 2019-09-20

Hong Kong Inflation Rate Steady at Near 3-Year High
The annual inflation rate in Hong Kong was at 3.3 percent in July 2019, unchanged from the previous month. It remained the highest inflation since August of 2016, mostly driven by cost of food and transport.
Published on 2019-08-20