Hong Kong Inflation Rate Unchanged in December

In December of 2013, Hong Kong annual inflation rate remained unchanged at 4.3 percent for the second straight month. Netting out the effects of all Government's one-off relief measures, the underlying inflation rate was 3.9 percent, slightly lower than 4 percent in November, mainly due to small price increases of fresh vegetables.

Year-on-year price increases were recorded in December of 2013 for electricity, gas and water (7.3 percent); housing (5.9 percent); meals bought away from home (4.7 percent); miscellaneous services (4.6 percent); food (excluding meals bought away from home) (3.3 percent); miscellaneous goods (2.7 percent); transport (2.6 percent); clothing and footwear (2.2 percent) and alcoholic drinks and tobacco (1.4 percent).

On the other hand, price decrease was recorded for durable goods (-3.8 percent).

A Government spokesman said for 2013 as a whole, underlying inflation averaged 4.0 percent, matching the Government's earlier forecast and down from 4.7 percent in 2012. Looking ahead, the still-low imported inflation and the feed-through of the milder increases in fresh-letting residential rentals in 2013 should help contain the upside risks to inflation in the near term. 

Hong Kong Inflation Rate Unchanged in December

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
1/21/2014 8:49:28 AM