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.
Inflation Rate in Hong Kong averaged 4.28 percent from 1981 until 2020, 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 July of 2020. source: Census and Statistics Department, Hong Kong
Inflation Rate in Hong Kong is expected to be 1.90 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 3.50 in 12 months time. In the long-term, the Hong Kong Inflation Rate is projected to trend around 2.50 percent in 2021 and 2.40 percent in 2022, according to our econometric models.