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. Food and transport prices rose at a faster pace while housing and miscellaneous goods services inflation slowed. Inflation Rate in Hong Kong averaged 4.33 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 2.60 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 2.30 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
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Calendar GMT Actual Previous Consensus TEForecast
2019-01-22 08:30 AM Inflation Rate YoY 2.5% 2.6% 2.3%
2019-02-22 08:30 AM Inflation Rate YoY 2.4% 2.5% 2.3%
2019-03-21 08:30 AM Inflation Rate YoY 2.1% 2.4% 2.3%
2019-04-23 08:30 AM Inflation Rate YoY 2.1% 2.1% 1.6% 1.7%
2019-05-23 08:30 AM Inflation Rate YoY 2.1%
2019-06-21 08:30 AM Inflation Rate YoY
2019-07-22 08:30 AM Inflation Rate YoY 2.6%

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.

Upward pressure came from: food (3.1 percent vs 3 percent in February), in particular meals bought away from home (2.3 percent vs 2 percent) and other food (4.7 percent vs 4.9 percent); housing (2.9 percent vs 3 percent), such as private housing rent (2.2 percent vs 2.4 percent) and public housing rent (11.6 percent, the same as in February); miscellaneous services (1.1 percent vs 1.6 percent), such as information and communication services (-8.6 percent vs -6.4 percent), medical services (4.2 percent, the same as in February) and educational services (2.4 percent, the same as in February); transport (2 percent vs 1.4 percent); miscellaneous goods (2.1 percent vs 1.4 percent); alcoholic drinks and tobacco (2.5 percent vs 2.6 percent); and clothing and footwear (0.3 percent vs -1.5 percent).

On the other hand, declines were seen in prices of electricity, gas and water (-5.4 percent vs -4.7 percent) and durable goods (-2.4 percent vs -1.7 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 slowed to 2.4 percent in March from 2.6 percent in the previous month.

"Looking ahead, inflation will likely stay moderate in the near term. The consolidation of fresh-letting residential rentals earlier on should continue to have a mitigating effect in the period ahead. External price pressures have also shown some easing recently. The Government will continue to monitor the situation closely, particularly the impact on the lower-income people.", a Government spokesman said.

Census and Statistics Department | Joana Ferreira |
4/23/2019 9:14:26 AM

Hong Kong Prices Last Previous Highest Lowest Unit
Inflation Rate 2.10 2.10 16.00 -6.10 percent [+]
Consumer Price Index CPI 108.80 109.10 109.10 21.40 Index Points [+]
GDP Deflator 107.60 107.50 107.60 14.00 Index Points [+]
Producer Prices 110.60 111.50 114.80 84.70 Index Points [+]
Export Prices 104.50 103.40 105.50 54.50 Index Points [+]
Import Prices 104.20 102.50 105.80 51.90 Index Points [+]
Producer Prices Change 0.30 3.70 9.59 -6.20 percent [+]
Inflation Rate Mom -0.20 -0.20 3.10 -2.43 percent [+]
Food Inflation 3.10 3.00 8.20 -0.60 percent [+]
CPI Transportation 107.00 107.00 116.50 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 April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.10 2.10 16.00 -6.10 1981 - 2019 percent Monthly

Country Last Previous
Argentina 54.70 Mar/19
Australia 1.80 Dec/18
Brazil 4.58 Mar/19
Canada 1.90 Mar/19
China 2.30 Mar/19
Euro Area 1.40 Mar/19
France 1.10 Mar/19
Germany 1.30 Mar/19
India 2.86 Mar/19
Indonesia 2.48 Mar/19
Italy 1.00 Mar/19
Japan 0.50 Mar/19
Mexico 4.00 Mar/19
Netherlands 2.80 Mar/19
Russia 5.30 Mar/19
Saudi Arabia -2.10 Mar/19
Singapore 0.60 Mar/19
South Africa 4.50 Mar/19
South Korea 0.40 Mar/19
Spain 1.30 Mar/19
Switzerland 0.70 Mar/19
Turkey 19.71 Mar/19
United Kingdom 1.90 Mar/19
United States 1.90 Mar/19