Hong Kong Inflation Rate Picks Up to 2% in July

Consumer prices in Hong Kong increased 2 percent year-on-year in July of 2017, above 1.9 percent in the previous month. Prices advanced for transport and recovered for clothing and footwear while inflation was steady for housing and food.

Year-on-year, prices rose faster for transport (3 percent vs 2.5 percent in June); information and communication (0.5 percent vs 0.4 percent); health (4.7 percent vs 4 percent) and recovered for clothing and footwear (0.9 percent vs -1.4 percent). In addition, cost fell less for electricity, gas and water (-0.7 percent vs -0.9 percent) and alcoholic beverages and tobacco (-0.2 percent vs -0.4 percent).

Conversely, inflation slowed for miscellaneous goods (0.5 percent vs 1.5 percent) and miscellaneous services (1.4 percent vs 1.9 percent) and was stable for housing (2.7 percent); food (2.5 percent) and education (2.8 percent).

Underlying consumer inflation, which excludes the effects of one-off government relief measures was also 2.0 percent, slightly higher than 1.9 percent in June, manly due to the increases in the prices of women's outerclothing.

Hong Kong Inflation Rate Picks Up to 2% in July

Census and Statistics Department |Luisa Carvalho | luisa.carvalho@tradingeconomics.com
8/22/2017 9:24:07 AM