Hong Kong Inflation Rate Picks Up to 2.7% in September

Inflation rate in Hong Kong went up to 2.7 percent in September 2018 from 2.3 percent in the previous month. Prices increased mainly for food; electricity, gas & water and housing. The government expects moderate inflationary pressures in the rest of the year due to rising local costs, along with the sustained economic expansion, and higher residential rents.

Year-on-year, prices advanced faster for food (3.6 percent vs 3.5 percent in August); electricity, gas & water (3.8 percent vs 3.4 percent); housing (2.9 percent vs 2.3 percent); miscellaneous services (2.9 percent vs 1.4 percent) and clothing & footwear (2.5 percent vs 1.9 percent). Contrarily, cost slowed slightly for transport (1.3 percent vs 1.4 percent). 

On a monthly basis, consumer prices edged up 0.2 percent, after being flat in August. 

Underlying consumer inflation, which excludes the effects of one-off government relief measures - such as tax cuts for lower income individuals; extra allowance for the elderly, child & disabled people; students' grants; etc. -, rose to 3.1 percent (from 2.6 percent in August), to the increases in school fees and the upward adjustment in public housing rentals.

The Government will continue to monitor the situation closely, particularly the impact on the lower-income people.

Hong Kong Inflation Rate Picks Up to 2.7% in September

Census and Statistics Department | Gabriela Costa | gabriela.costa@tradingeconomics.com
10/23/2018 9:23:03 AM