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.

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Hong Kong Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-06-21 08:30 AM May 1.2% 1.3% 1.6% 1.8%
2022-07-21 08:30 AM Jun 1.8% 1.2% 1.6% 1.6%
2022-08-22 08:30 AM Jul 1.8%


Related Last Previous Unit Reference
Inflation Rate 1.80 1.20 percent Jun 2022
Consumer Price Index CPI 103.20 102.90 points Jun 2022
GDP Deflator 100.80 101.20 points Mar 2022
Producer Prices 114.10 111.10 points Mar 2022
Export Prices 113.90 112.10 points May 2022
Import Prices 113.70 112.70 points May 2022
Inflation Rate Mom 0.30 -0.20 percent Jun 2022
Food Inflation 4.00 4.00 percent Jun 2022
CPI Transportation 105.10 104.20 points Jun 2022
Producer Prices Change 2.30 1.20 percent Mar 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
1.80 1.20 16.00 -6.10 1981 - 2022 percent Monthly
2019/2020=100

News Stream
Hong Kong Inflation Beats Forecasts
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.
2022-07-21
Hong Kong Inflation Rate Eases Further
The annual inflation rate in Hong Kong eased to a four-month low of 1.2 percent in May of 2022 from 1.3 percent in the previous month and well below market expectations of 1.6 percent. Housing prices continued to fall (-0.5 percent, the same as in April) while those for transport eased (1.5 percent vs. 1.8 percent in April). At the same time, inflation was steady for food (4.0 percent) and miscellaneous services (1.3 percent). Meanwhile, the underlying inflation rate went up to 1.7 percent in May from 1.6 percent in the prior month. While external price pressures are expected to remain intensive amid elevated inflation in some primary import sources, overall inflation should stay moderate in the near term as domestic cost pressures remain primarily mild.
2022-06-21
Hong Kong Inflation Rate Misses Expectations
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.
2022-05-23