Annual inflation rate in Hong Kong jumped to 1.9% in January of 2021, the first rise in CPI in 7 months. The increase was mainly due to a low base of comparison from the Government's payment of public housing rentals and waiver of two-thirds of rent for tenants in January last year. Netting out the effects of all Government's one-off relief measures, the year-on-year rate of change in CPI was -0.5%. Main price increases were seen in electricity, gas and water (19.1%); housing (6.1%); alcoholic drinks and tobacco (2.5%) as well as miscellaneous goods (0.8%) while falls were recorded for transport (-3.1%); clothing and footwear (-2.6%); durable goods (-1.8%); meals bought away from home (-0.8%); food (excluding meals bought away from home) (-0.3%) and miscellaneous services (-0.2%). source: Census and Statistics Department, Hong Kong

Inflation Rate in Hong Kong averaged 4.20 percent from 1981 until 2021, reaching an all time high of 16 percent in October of 1981 and a record low of -6.10 percent in August of 1999. 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 - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

Inflation Rate in Hong Kong is expected to be -0.30 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 2.40 percent in 2022, according to our econometric models.

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Hong Kong Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.90 -0.70 16.00 -6.10 1981 - 2021 percent Monthly
2014/2015=100


Calendar GMT Actual Previous Consensus TEForecast
2020-11-20 08:30 AM Oct -0.2% -2.2% 0.4%
2020-12-21 08:30 AM Nov -0.2% -0.2% 0.5%
2021-01-21 08:30 AM Dec -0.7% -0.2% -1.2%
2021-02-22 08:30 AM Jan 1.9% -0.7% -0.2%
2021-03-22 08:30 AM Feb 1.9%
2021-04-23 08:30 AM Mar
2021-05-21 08:30 AM Apr
2021-06-22 08:30 AM May


News Stream
Hong Kong Inflation Rate at 9-Month High
Annual inflation rate in Hong Kong jumped to 1.9% in January of 2021, the first rise in CPI in 7 months. The increase was mainly due to a low base of comparison from the Government's payment of public housing rentals and waiver of two-thirds of rent for tenants in January last year. Netting out the effects of all Government's one-off relief measures, the year-on-year rate of change in CPI was -0.5%. Main price increases were seen in electricity, gas and water (19.1%); housing (6.1%); alcoholic drinks and tobacco (2.5%) as well as miscellaneous goods (0.8%) while falls were recorded for transport (-3.1%); clothing and footwear (-2.6%); durable goods (-1.8%); meals bought away from home (-0.8%); food (excluding meals bought away from home) (-0.3%) and miscellaneous services (-0.2%).
2021-02-22
Hong Kong Consumer Prices Fall For 6th Month
Hong Kong consumer prices fell 0.7 percent from a year earlier in December of 2020, marking the sixth straight month of deflation amid subdued demand conditions. Downward pressure came from prices of electricity, gas and water (-30 percent); clothing and footwear (-5.9 percent); durable goods (-2.6 percent); transport (-2.1 percent) and miscellaneous services (-0.1 percent). On the other hand, prices increased for food, excluding meals bought away from home (2.2 percent), alcoholic drinks and tobacco (1.7 percent), miscellaneous goods (1.4 percent) and housing (0.3 percent). Meantime, cost was flat for meals bought away from home. Looking ahead, overall price pressures should remain very mild in the near term as global and local economic conditions are still challenging amid the continued threat of COVID-19, a Government spokesman said.
2021-01-21
Hong Kong Consumer Prices Fall For a 5th Month
Hong Kong consumer prices fell 0.2 percent from a year earlier in November 2020, the fifth consecutive month of decline amid subdued economic conditions. Cost was down for electricity, gas and water (-21.6 percent), clothing and footwear (-5.5 percent), durable goods (-2.3 percent), and transport (-1.9 percent). Meantime, prices increased for food excluding meals bought away from home (2.8 percent), alcoholic drinks and tobacco (1.6 percent), miscellaneous goods (1.3 percent), meals bought away from home (1.0 percent), housing (0.5 percent) and miscellaneous services (0.1 percent). Looking ahead, overall inflationary pressures are likely to stay very mild in the near term as global and local economic conditions remain clouded by the threat of COVID-19, a Government spokesman said.
2020-12-21
Hong Kong Deflation Softens Sharply in October
Consumer prices in Hong Kong fell 0.2 percent year-on-year in October of 2020, the smallest decrease in four months, as the effect of the waiver of public housing rentals by Hong Kong Housing Authority in September dissipated in October. Main declines were recorded for electricity, gas and water (-21.4 percent); clothing and footwear (-5.5 percent); durable goods (-2.7 percent) and transport (-1.8 percent) while rises were seen in cost of food (3.2 percent), miscellaneous goods (1.5 percent), meals bought away from home (0.9 percent), housing (0.5 percent), alcoholic drinks and tobacco (0.5 percent) as well as miscellaneous services (0.1 percent). " Looking ahead, overall inflationary pressures should stay tame in the near term as the evolving COVID-19 pandemic still weighs on the global and local economic conditions", a Government spokesman said.
2020-11-20

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.