The annual inflation rate in Hong Kong fell to 2.6 percent in November 2018 from 2.7 percent in the previous month. It was the lowest inflation rate since August, mainly due to a slowdown in cost of food and electricity, gas and water. Inflation Rate in Hong Kong averaged 4.34 percent from 1981 until 2018, reaching an all time high of 16 percent in October of 1981 and a record low of -6.10 percent in August of 1999.

Inflation Rate in Hong Kong is expected to be 2.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Hong Kong to stand at 2.40 in 12 months time. In the long-term, the Hong Kong Inflation Rate is projected to trend around 2.80 percent in 2020, according to our econometric models.

Hong Kong Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-20 08:30 AM Inflation Rate YoY 2.3% 2.4% 2.4%
2018-10-23 08:30 AM Inflation Rate YoY 2.7% 2.3% 2.5%
2018-11-20 08:30 AM Inflation Rate YoY 2.7% 2.7% 2.5%
2018-12-20 08:30 AM Inflation Rate YoY 2.6% 2.7% 2.6%
2019-01-22 08:30 AM Inflation Rate YoY 2.6% 2.3%
2019-02-22 08:30 AM Inflation Rate YoY
2019-03-21 08:30 AM Inflation Rate YoY



Hong Kong Inflation Rate at 3-Month Low in November

The annual inflation rate in Hong Kong fell to 2.6 percent in November 2018 from 2.7 percent in the previous month. It was the lowest inflation rate since August, amid a slowdown in cost of food and clothing and footwear.

Year-on-year, prices slowed for food (3.0 percent compared to 3.9 percent in October) and electricity, gas & water (4.0 percent compared to 4.1 percent). Additionally, cost of clothing & footwear dropped (-0.2 percent compared to 2.0 percent) and durable goods prices continued to fall (-1.8 percent, the same as in October). On the other hand, prices rose at a faster pace for miscellaneous services (3.1 percent compared to 2.7 percent) and inflation was steady for housing (3.0 percent, the same as in October) and transport (1.6 percent). 

On a monthly basis, consumer prices went up 0.2 percent, unchanged from the prior month.

Underlying consumer inflation, which excludes the effects of one-off government relief measures - such as tax cuts for lower income individuals; extra allowance for the elderly, child & disabled people; students' grants; etc. -, declined to 2.9 percent from 3.0 percent in October, mostly due to decreases in women's outerclothing prices and the smaller gains in local transport.

The Government will continue to monitor the situation closely, particularly the impact on the lower-income people.


Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com
12/20/2018 9:11:30 AM


News

Hong Kong Inflation Rate Steady at 2.7% in October
Inflation rate in Hong Kong came in at 2.7 percent in October 2018, the same as in the previous month. Prices increased mainly for electricity, gas & water; food (excluding meals bought away from home) and housing; while cost fell further for durable goods. The government expects moderate inflationary pressures in the rest of the year, due to rising local costs and higher residential rents.
Published on 2018-11-20

Hong Kong Inflation Rate Picks Up to 2.7% in September
Inflation rate in Hong Kong went up to 2.7 percent in September 2018 from 2.3 percent in the previous month. Prices increased mainly for food; electricity, gas & water and housing. The government expects moderate inflationary pressures in the rest of the year due to rising local costs, along with the sustained economic expansion, and higher residential rents.
Published on 2018-10-23

Hong Kong Inflation Rate Edges Down to 2.3% in August
Inflation rate in Hong Kong declined to 2.3 percent in August of 2018 from 2.4 percent in each of the previous two months. Prices slowed mainly for food, clothing & footwear, transport and utilities. The government expects inflationary pressures to rise in the next months, due to a gradual increase in global inflation and residential rents. However, the inflation rate should remain within a moderate range for 2018 as a whole.
Published on 2018-09-20

Hong Kong Inflation Rate Steady at 2.4% in July
Inflation rate in Hong Kong came in at 2.4 percent in July of 2018, the same as in the previous month. Prices slowed mainly for food while they continued to rise for housing, miscellaneous services and transport.
Published on 2018-08-21



Hong Kong Prices Last Previous Highest Lowest Unit
Inflation Rate 2.60 2.70 16.00 -6.10 percent [+]
Consumer Price Index CPI 107.90 107.70 107.90 21.40 Index Points [+]
GDP Deflator 107.40 106.70 107.40 14.00 Index Points [+]
Producer Prices 111.50 114.80 114.80 84.70 Index Points [+]
Export Prices 105.40 105.00 105.40 54.50 Index Points [+]
Import Prices 105.80 105.50 105.80 51.90 Index Points [+]
Producer Prices Change 3.70 3.80 9.59 -6.20 percent [+]
Inflation Rate Mom 0.20 0.20 3.10 -2.43 percent [+]
Food Inflation 3.00 3.90 8.20 -0.60 percent [+]
CPI Transportation 105.20 105.00 116.50 98.20 Index Points [+]


Hong Kong Inflation Rate

In Hong Kong, the composite consumer price index is based on a monthly survey conducted throughout the territory. The indicator consists of 980 consumer goods and services classified into 9 major groups. Housing accounts for 31.6 percent of total weight, Food for 27.5 percent and Miscellaneous Services such as education, communications, information and medical care for 15.9 percent. Transport constitutes 8.5 percent of total index; Durable Goods for 5.2 percent; Miscellaneous Goods for 4.2 percent and Clothing and Footwear for 3.4 percent. Electricity, Gas and Water account for 3.1 percent and Alcoholic Drinks and Tobacco for the remaining 0.6 percent. This page provides the latest reported value for - Hong Kong Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hong Kong Inflation Rate - actual data, historical chart and calendar of releases - was last updated on January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.60 2.70 16.00 -6.10 1981 - 2018 percent Monthly
2009/2010=100




Country Last Previous
Argentina 47.10 Dec/18
Australia 1.90 Sep/18
Brazil 3.75 Dec/18
Canada 1.70 Nov/18
China 1.90 Dec/18
Euro Area 1.60 Dec/18
France 1.60 Dec/18
Germany 1.70 Dec/18
India 2.19 Dec/18
Indonesia 3.13 Dec/18
Italy 1.10 Dec/18
Japan 0.80 Nov/18
Mexico 4.83 Dec/18
Netherlands 2.00 Dec/18
Russia 4.30 Dec/18
Saudi Arabia 2.80 Nov/18
Singapore 0.30 Nov/18
South Africa 5.20 Nov/18
South Korea 1.30 Dec/18
Spain 1.20 Dec/18
Switzerland 0.70 Dec/18
Turkey 20.30 Dec/18
United Kingdom 2.10 Dec/18
United States 1.90 Dec/18


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