The annual inflation rate in Hong Kong rose to a six-month high of 1.8% in June of 2022 from 1.2% in the previous month, beating market expectations of 1.6%. This was mainly due to sharp rises in prices of electricity, gas and water (14.1% vs -4.9%) amid fading effect of the government's electricity charge subsides announced last month. Also, prices rose further for transport (2.1% vs 1.5%). In contrast, inflation remained steady for food (at 4%) while eased slightly or miscellaneous services (1.2% vs 1.3%). Also, housing prices continued to fall at a steady rate of 0.5%. Meanwhile, the underlying inflation rate also went up to 1.8% in June from 1.7% in May. In view of surging inflation in some major import sources, price pressures on the external front are expected to remain notable. Yet, overall inflation should remain moderate in the near term as domestic cost pressures stay mild, a government spokesman said. source: Census and Statistics Department, Hong Kong
Inflation Rate in Hong Kong averaged 4.10 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 August of 2022.
Inflation Rate in Hong Kong is expected to be 2.10 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.