Hong Kong Inflation Rate Slows to 1.9% in August

Consumer prices in Hong Kong increased 1.9 percent year-on-year in August of 2017, easing from 2 percent in the previous month. Prices advanced at a softer pace for food and transport while rose faster for housing and miscellaneous services.

Year-on-year, prices rose less for food (2.4 percent vs 2.5 percent in July), as cost of meals bought away from home advanced at the same pace (2.7 percent) and the one of food, excluding meals away from home slowed (1.9 percent vs 2.2 percent). Also, prices advanced at a slower pace for transport (1.1 percent vs 3 percent) while fell for alcoholic beverages and tobacco (-0.8 percent vs -0.2 percent) and durable goods (-3 percent vs -3.6 percent).

In contrast, cost increased faster for: housing (2.8 percent vs 2.7 percent); miscellaneous services (1.8 percent vs 1.4 percent), of which education (3 percent vs 2.8 percent) and medical services (5.1 percent vs 4.7 percent); clothing and footwear (1.6 percent vs 0.9 percent) and miscellaneous goods (0.6 percent vs 0.5 percent).

Underlying consumer inflation, which excludes the effects of one-off government relief measures was also 1.9 percent, slightly smaller than 2 percent in July, mainly due to the decreases in inbound and outbound transport fares.

Hong Kong Inflation Rate Slows to 1.9% in August

Census and Statistics Department | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/21/2017 9:19:09 AM