Hong Kong Inflation Rate Edges Up in October

Hong Kong annual inflation rate increased to 2.4 percent in October of 2015 from 2.0 percent in the previous month, mainly due to dissipation of the special fuel rebate in electricity which was in effect throughout September 2015.

The upward pressure came from: housing (+4 percent); meals bought away from home (+4.1 percent); food (excluding meals bought away from home) (+4.2 percent); miscellaneous goods (+0.9 percent); miscellaneous  services (+1.3 percent), alcoholic drinks and tobacco (+1.0 percent). In contrast, the downward pressure came from: electricity, gas and water (-4.7 percent from -10.1 percent in September); durable goods prices (-5.8 percent); and clothing and footwear cost (-1.2 percent). As for transport, the Composite CPI fell by 0.5 percent.

On a monthly basis, the composite consumer price index increased by 1.8 percent, from a 2.6 percent growth in the previous month.

Looking ahead, inflation should remain contained in the near term given the receding external price pressures and modest growth pace of the local economy, a Government spokesman said.

Hong Kong Inflation Rate Edges Up in October

Census and Statistics Department | Yekaterina Guchshina | yekaterina@tradingeconomics.com
11/23/2015 9:18:35 AM