The annual inflation rate in Hong Kong eased to a 3-month low of 1.3% in March of 2022 from 1.7% in the previous month, missing market expectations of 1.9%. Also, the underlying inflation rate was 1.6%, smaller than the 1.7% increase in March, mainly due to the slower increases in the prices of basic food, particularly fresh vegetables. Among CPI components, prices moderated for basic food items (5.2% vs 7.6% in March) amid stabilization of fresh vegetables supply and declined faster for housing (-0.6% vs -0.1%). On the other hand, prices rebounded for energy related items (+0.2% vs -2%) and picked up for meals out and takeaway food (+3.2%) amid the receding local epidemic. While external price pressures are expected to remain intensive in view of elevated inflation in many major economies, overall inflation should stay moderate in the near term as domestic cost pressures remain largely mild, a government spokesman said. source: Census and Statistics Department, Hong Kong
Inflation Rate in Hong Kong averaged 4.11 percent from 1981 until 2022, reaching an all time high of 16 percent in October of 1981 and a record low of -6.10 percent in August of 1999. 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 - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.
Inflation Rate in Hong Kong is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong Inflation Rate is projected to trend around 1.10 percent in 2023 and 0.80 percent in 2024, according to our econometric models.