Hong Kong Inflation Rate Edges Up in June

Hong Kong annual inflation rate increased to 3.1 percent in June of 2015 from a 3 percent growth in the previous month, as cost of utilities and housing rose the most.

Year-on-year increases in prices were recorded for: electricity, gas and water (+25.0 percent); housing (+4.3 percent); meals bought away from home (+4.2 percent); food (excluding meals bought away from home) (+4.2 percent); miscellaneous services (+0.8 percent); miscellaneous goods (+1.3 percent). In contrast, downward pressure came from: durable goods prices (-5.8 percent); and clothing and footwear cost (-2.6 percent); alcoholic drinks and tobacco (-0.5 percent). As for transport, the Composite CPI fell by 0.3 percent.

Netting out the effects of all Government's one-off relief measures, the inflation rate was 2.6 percent, the same as in the previous month, mainly due to increases in the prices of salt-water fish.

On a monthly basis, the composite consumer price index grew by 0.2 percent, the same increase as in the previous month.

Looking ahead, given the mild imported inflation and modest growth pace of the local economy, consumer price pressures should remain contained in the near term, a Government spokesman commented.

Hong Kong Inflation Rate Edges Up in June

Census and Statistics Department | Yekaterina Guchshina | yekaterina@tradingeconomics.com
7/21/2015 9:52:29 AM