Hong Kong Inflation Rate Steady At 1.2% In November

Consumer prices in Hong Kong increased by 1.2 percent year-on-year in October 2016, at the same pace as in the previous month. Inflation stayed at the lowest level since January 2010, mainly due to a slowdown in housing and utilities prices while food cost accelerated.
Census and Statistics Department | Yekaterina Guchshina | yekaterina@tradingeconomics.com 12/20/2016 9:22:43 AM
Year-on-year, prices increased at a slower pace for housing (+0.4 percent compared to +0.5 percent in October), as cost of public housing rent dropped sharply (-5.6 percent, unchanged from October) and private housing rent went up at a slower pace (+0.6 percent from +0.7 percent); and transport (+1.8 percent from +2.4 percent).

Also, cost fell for durable goods (-5 percent from -4.9 percent); clothing and footwear (-3 percent from -2.4 percent) and  electricity, gas and water (+0.3 percent from +4.9 percent).

By contrast, cost rose at a faster pace for: food (+3.2 percent from +2.6 percent);  miscellaneous services (+2.1 percent from +1.6 percent); and miscellaneous goods (+2.2 percent from +1.6 percent). 

Meanwhile, underlying consumer prices, which exclude the effects of one-off government relief measures, went up 2.1 percent, unchanged from October.

Taking the first eleven months of 2016 together, the consumer price index went up by 2.5 percent over a year earlier. Netting out the effects of all Government's one-off relief measures, it rose by 2.3 percent.

Looking ahead, inflation risks should remain contained in the near term, given the still-low global inflation and moderate rises in local costs, a spokesman commented.

Hong Kong Inflation Rate Steady At 1.2% In November