Hong Kong Inflation Rate Steady at 4.3% in November

In November of 2013, Hong Kong's annual inflation rate remained stable at 4.3 percent, in line with market expectations. The core inflation rate which excludes the effect of government's one-off relief measures, rose at a steady pace of 4 percent.

Year-on-year increases in prices were recorded in November for electricity, gas and water (7.1 percent); housing (6.1 percent); food (excluding meals bought away from home) - 4.5 percent); miscellaneous services (4.4 percent); meals bought away from home (4.3 percent); miscellaneous goods (2.8 percent); clothing and footwear (2.7 percent); transport (2.3 percent) and alcoholic drinks and tobacco (0.8 percent).

On the other hand, year-on-year decrease in prices was recorded in November for durable goods (-4.0 percent).

Taking the first eleven months of 2013 together, the inflation rate rose by 4.3 percent over a year earlier.

A Government spokesman commented that, looking ahead, the subdued imported inflation and the moderated increases in fresh-letting residential rentals since early 2013 should help to contain the upside risks to inflation in the near team.

Hong Kong Inflation Rate Steady at 4.3% in November

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
12/23/2013 10:16:08 AM