The annual inflation rate in Hong Kong increased to 3.3 percent in June of 2019 from 2.8 percent in the previous month and well above market expectations of 2.7 percent. It was the highest inflation since August of 2016, mainly due to higher prices of food and transport. Inflation Rate in Hong Kong averaged 4.32 percent from 1981 until 2019, reaching an all time high of 16 percent in October of 1981 and a record low of -6.10 percent in August of 1999.

Inflation Rate in Hong Kong is expected to be 2.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Hong Kong to stand at 2.50 in 12 months time. In the long-term, the Hong Kong Inflation Rate is projected to trend around 2.80 percent in 2020, according to our econometric models.

Hong Kong Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-04-23 08:30 AM Inflation Rate YoY Mar 2.1% 2.1% 1.6% 1.7%
2019-05-23 08:30 AM Inflation Rate YoY Apr 2.9% 2.1% 2.1% 2%
2019-06-21 08:30 AM Inflation Rate YoY May 2.8% 2.9% 2.8%
2019-07-22 08:30 AM Inflation Rate YoY Jun 3.3% 2.8% 2.7% 2.6%
2019-08-20 08:30 AM Inflation Rate YoY Jul 3.3% 2.9%
2019-09-20 08:30 AM Inflation Rate YoY Aug
2019-10-22 08:30 AM Inflation Rate YoY Sep 2.3%



Hong Kong Inflation Rate Jumps to Near 3-Year High of 3.3%

The annual inflation rate in Hong Kong increased to 3.3 percent in June of 2019 from 2.8 percent in the previous month and well above market expectations of 2.7 percent. It was the highest inflation since August of 2016, mainly due to higher prices of food and transport.

Year-on-year, prices advanced faster for food (5.6 percent from 3.6 percent in May), led by food, excluding meals bought away from home (12.1 percent from 6.5 percent) and those bought away from home (2.1 percent, the same as in May); and transport (1.7 percent from 1.5 percent). In addition, inflation was steady for miscellaneous services (at 2.1 percent), namely educational services (at 2.3 percent); and miscellaneous goods (at 2.1 percent). 

On the other hand, cost slowed for housing (4.1 percent from 4.2 percent) and alcoholic drinks and tobacco (1.8 percent from 3.2 percent) while prices continued to fall for durable goods (-1.5 percent from -2 percent); clothing and footwear (-3.1 percent from -1.2 percent) and electricity, gas and water (-5.1 percent from -4.9 percent).  

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 rose to 3.9 percent in June from 3.1 percent in the prior month. 

“Looking ahead, inflation will likely remain moderate in the near term, in tandem with the easing in fresh-letting residential rentals earlier on and in external price pressures. The Government will continue to monitor the inflation situation closely, particularly the impact on the lower-income people.”, a government spokesman said.


Census and Statistics Department | Agna Gabriel | agna.gabriel@tradingeconomics.com
7/22/2019 9:01:21 AM


News

Hong Kong Inflation Rate Edges Down to 2.8% in May
The annual inflation rate in Hong Kong dropped to 2.8 percent in May 2019 from 2.9 percent in the previous month. Prices slowed mostly for housing, transport and miscellaneous services.
Published on 2019-06-21

Hong Kong April Inflation Rate at 14-Month High of 2.9%
The annual inflation rate in Hong Kong rose to 2.9 percent in April 2019 from 2.1 percent in the previous month and above market expectations of 2.1 percent. It was the highest inflation rate since February last year, mainly boosted by housing due to a lower ceiling of rates concession and inbound and outbound transport fares.
Published on 2019-05-23

Hong Kong Inflation Rate Holds Steady at 9-Month Low
The annual inflation rate in Hong Kong came in at 2.1 percent in March 2019, unchanged from the previous month's nine-month low and above market expectations of 1.6 percent.
Published on 2019-04-23

Hong Kong February Inflation Rate at 9-Month Low of 2.1%
The annual inflation rate in Hong Kong fell to 2.1 percent in February 2019 from 2.4 percent in the previous month. It was the lowest inflation rate since May last year, mainly due to a decline in cost of housing and utilities as the government introduced electricity subsidy in January and a slowdown in food prices.
Published on 2019-03-21



Hong Kong Prices Last Previous Highest Lowest Unit
Inflation Rate 3.30 2.80 16.00 -6.10 percent [+]
Consumer Price Index CPI 110.20 109.50 110.20 21.40 Index Points [+]
GDP Deflator 105.80 104.60 105.80 13.60 Index Points [+]
Producer Prices 113.20 110.60 114.80 84.70 Index Points [+]
Export Prices 103.70 103.80 105.50 54.50 Index Points [+]
Import Prices 103.90 103.70 105.80 51.90 Index Points [+]
Producer Prices Change 0.80 0.30 9.59 -6.20 percent [+]
Inflation Rate Mom 0.60 -0.10 3.10 -2.43 percent [+]
Food Inflation 5.60 3.60 8.20 -0.60 percent [+]
CPI Transportation 107.60 106.80 116.50 98.20 Index Points [+]


Hong Kong Inflation Rate

In Hong Kong, the composite consumer price index is based on a monthly survey conducted throughout the territory. The indicator consists of 980 consumer goods and services classified into 9 major groups. Housing accounts for 31.6 percent of total weight, Food for 27.5 percent and Miscellaneous Services such as education, communications, information and medical care for 15.9 percent. Transport constitutes 8.5 percent of total index; Durable Goods for 5.2 percent; Miscellaneous Goods for 4.2 percent and Clothing and Footwear for 3.4 percent. Electricity, Gas and Water account for 3.1 percent and Alcoholic Drinks and Tobacco for the remaining 0.6 percent. This page provides the latest reported value for - Hong Kong Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hong Kong Inflation Rate - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.30 2.80 16.00 -6.10 1981 - 2019 percent Monthly
2009/2010=100




Country Last Previous
Argentina 55.80 Jun/19
Australia 1.60 Jun/19
Brazil 3.22 Jul/19
Canada 2.00 Jun/19
China 2.80 Jul/19
Euro Area 1.10 Jul/19
France 1.10 Jul/19
Germany 1.70 Jul/19
India 3.15 Jul/19
Indonesia 3.32 Jul/19
Italy 0.40 Jul/19
Japan 0.70 Jun/19
Mexico 3.78 Jul/19
Netherlands 2.50 Jul/19
Russia 4.60 Jul/19
Saudi Arabia -1.40 Jun/19
Singapore 0.60 Jun/19
South Africa 4.50 Jun/19
South Korea 0.60 Jul/19
Spain 0.50 Jul/19
Switzerland 0.30 Jul/19
Turkey 16.65 Jul/19
United Kingdom 2.10 Jul/19
United States 1.80 Jul/19


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