Hong Kong Inflation Rate Down to 3.70 Percent in November


The Census and Statistics Department released on December 20 the Consumer Price Index (CPI) figures for November 2012. According to the Composite CPI, overall consumer prices rose by 3.7 percent in November 2012 over the same month a year earlier, slightly smaller than the corresponding increase (3.8 percent) in October 2012.

Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in November 2012 was 3.8 percent, same as that in October 2012. The slightly smaller increase in the Composite CPI was mainly due to smaller increases in private housing rentals.

On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the 3-month period from September to November 2012 was 1.3 percent, and that for the 3-month period from August to October 2012 was 1.2 percent. Netting out the effects of all Government's one-off relief measures, the average monthly rate of increase in the Composite CPI for the 3-month period from September to November 2012 was 0.4 percent, the same as that for the 3-month period from August to October 2012.

Amongst the various CPI components, year-on-year increases in prices were recorded in November 2012 for housing (5.2 percent in the Composite CPI); meals bought away from home (4.6 percent in the Composite CPI); electricity, gas and water (4.6 percent in the Composite CPI); food (excluding meals bought away from home) (3.5 percent in the Composite CPI); miscellaneous services (2.8 percent in the Composite CPI); transport (2.2 percent in the Composite CPI); miscellaneous goods (2.1 percent in the Composite CPI); clothing and footwear (2.0 percent in the Composite CPI) and alcoholic drinks and tobacco (1.1 percent in the Composite CPI).


Census & Statistics Department | Andre Crujo | andre@tradingeconomics.com
12/20/2012 9:34:18 AM