Hong Kong Inflation Rate Rises in February

Hong Kong annual inflation rate increased to 4.6 percent in February from 4.1 percent in the previous month due to higher housing, food and utilities cost.

Year-on-year, increases in prices were recorded for electricity, gas and water (21.8 percent), mainly because some households had used up the full amount of Government's one-off electricity charge subsidy); housing (8.2 percent), due mainly to dissipation of effect of rates concession since October 2014); alcoholic drinks and tobacco (6.3 percent), mainly due to the increase of tobacco duty; meals bought away from home (4.4 percent); food (excluding meals bought away from home) (3.1 percent); miscellaneous services (2.2 percent) and miscellaneous goods (1.1 percent).

On the other hand, decrease in prices were recorded for durable goods (-5.6 percent) as well as clothing and footwear (-0.9 percent).

Netting out the effects of all Government's one-off relief measures, the inflation rate was 2.8 percent, up from 2.3 percent in January. The larger increase was mainly attributable to the difference in the timing of the Lunar New Year, which fell in February this year but in late January last year.

Hong Kong Inflation Rate Rises in February

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
3/20/2015 9:15:56 AM