Hong Kong Inflation Rate at 3-Month Low in November

The annual inflation rate in Hong Kong fell to 2.6 percent in November 2018 from 2.7 percent in the previous month. It was the lowest inflation rate since August, amid a slowdown in cost of food and clothing and footwear.

Year-on-year, prices slowed for food (3.0 percent compared to 3.9 percent in October) and electricity, gas & water (4.0 percent compared to 4.1 percent). Additionally, cost of clothing & footwear dropped (-0.2 percent compared to 2.0 percent) and durable goods prices continued to fall (-1.8 percent, the same as in October). On the other hand, prices rose at a faster pace for miscellaneous services (3.1 percent compared to 2.7 percent) and inflation was steady for housing (3.0 percent, the same as in October) and transport (1.6 percent). 

On a monthly basis, consumer prices went up 0.2 percent, unchanged from the prior month.

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. -, declined to 2.9 percent from 3.0 percent in October, mostly due to decreases in women's outerclothing prices and the smaller gains in local transport.

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

Hong Kong Inflation Rate at 3-Month Low in November

Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com
12/20/2018 9:11:30 AM