Hong Kong Inflation Rate Accelerates in January

In January of 2014, Hong Kong’s annual inflation rate rose 4.6 percent, the highest rate in the last four months, due mainly to the difference in timing of the Lunar New Year, which fell in late January and early February this year, but in mid-February last year.

Year-on-year, price increases were recorded for miscellaneous services (6.9 percent); electricity, gas and water (6.1 percent); housing (5.8 percent); meals bought away from home (4.7 percent); food (excluding meals bought away from home) (3.4 percent); transport (3.0 percent); miscellaneous goods (2.9 percent); clothing and footwear (2.0 percent) and alcoholic drinks and tobacco (1.1 percent).

On the other hand, prices of durable goods fell 3.8 percent.  

A Government spokesman commented that, 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 Accelerates in January

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
2/21/2014 9:19:18 AM