The annual inflation rate in Hong Kong dropped to 2.8 percent in May 2019 from 2.9 percent in the previous month. Prices slowed mostly for housing, transport and miscellaneous services. Inflation Rate in Hong Kong averaged 4.32 percent from 1981 until 2019, 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 2.60 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 2.30 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
2019-03-21 08:30 AM Inflation Rate YoY 2.1% 2.4% 2.3%
2019-04-23 08:30 AM Inflation Rate YoY 2.1% 2.1% 1.6% 1.7%
2019-05-23 08:30 AM Inflation Rate YoY 2.9% 2.1% 2.1% 2%
2019-06-21 08:30 AM Inflation Rate YoY 2.8% 2.9% 2.8%
2019-07-22 08:30 AM Inflation Rate YoY 2.8% 2.6%
2019-08-20 08:30 AM Inflation Rate YoY
2019-09-20 08:30 AM Inflation Rate YoY



Hong Kong Inflation Rate Edges Down to 2.8% in May

The annual inflation rate in Hong Kong dropped to 2.8 percent in May 2019 from 2.9 percent in the previous month. Prices slowed mostly for housing, transport and miscellaneous services.

Year-on-year, prices rose at a softer pace for housing (4.2 percent vs 4.3 percent in April), namely private housing rent (3.8 percent vs 3.9 percent); miscellaneous services (2.1 percent vs 3.1 percent), led by educational services (2.3 percent vs 2.4 percent) and informational and communication services (-9.9 percent vs -9 percent); and transport (1.5 percent vs 2.7 percent). In addition, cost continued to fall for durable goods (-2 percent vs -2.1 percent); clothing & footwear (-1.2 percent vs -1.1 percent) and electricity, gas and water (-4.9 percent vs -4.3 percent).

Meanwhile, inflation quickened for food (3.6 percent vs 3.0 percent), of which food, excluding meals bought away from home (6.5 percent vs 4.6 percent), amid the supply disruption to fresh pork; miscellaneous goods (2.1 percent vs 1.9 percent) and alcoholic drinks & tobacco (3.2 percent vs 2.3 percent).

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 increased to 3.1 percent in May from 3.0 percent in the prior month.

"Looking ahead, inflation will likely remain moderate in the near term, in tandem with the easing in fresh-letting residential rentals earlier on and in external price pressures. The Government will continue to monitor the inflation situation closely, particularly the impact on the lower-income people.", a government spokesman said.



Census and Statistics Department | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
6/21/2019 11:04:29 AM



Hong Kong Prices Last Previous Highest Lowest Unit
Inflation Rate 2.80 2.90 16.00 -6.10 percent [+]
Consumer Price Index CPI 109.50 109.60 109.60 21.40 Index Points [+]
GDP Deflator 105.80 104.60 105.80 13.60 Index Points [+]
Producer Prices 113.20 110.60 114.80 84.70 Index Points [+]
Export Prices 103.80 104.00 105.50 54.50 Index Points [+]
Import Prices 103.70 104.10 105.80 51.90 Index Points [+]
Producer Prices Change 0.80 0.30 9.59 -6.20 percent [+]
Inflation Rate Mom -0.10 0.70 3.10 -2.43 percent [+]
Food Inflation 3.60 3.00 8.20 -0.60 percent [+]
CPI Transportation 106.80 107.60 116.50 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 July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.80 2.90 16.00 -6.10 1981 - 2019 percent Monthly
2009/2010=100




Country Last Previous
Argentina 55.80 Jun/19
Australia 1.30 Mar/19
Brazil 3.37 Jun/19
Canada 2.40 May/19
China 2.70 Jun/19
Euro Area 1.30 Jun/19
France 1.20 Jun/19
Germany 1.60 Jun/19
India 3.18 Jun/19
Indonesia 3.28 Jun/19
Italy 0.70 Jun/19
Japan 0.70 May/19
Mexico 3.95 Jun/19
Netherlands 2.70 Jun/19
Russia 4.70 Jun/19
Saudi Arabia -1.50 May/19
Singapore 0.90 May/19
South Africa 4.50 May/19
South Korea 0.70 Jun/19
Spain 0.40 Jun/19
Switzerland 0.60 Jun/19
Turkey 15.72 Jun/19
United Kingdom 2.00 Jun/19
United States 1.60 Jun/19


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