Consumer prices in Hong Kong dropped 2.2 percent year-on-year in September 2020, following a 0.4 percent fall in the previous month. It was the third successive decline in consumer prices, mainly due to the waiver of public housing rentals by Hong Kong Housing Authority. Cost of housing fell (-5.3% vs 0.6% in August); and prices of electricity, gas & water decreased further (-19.8% vs -19.3%). Also, prices slowed for miscellaneous goods (1.9% vs 2.9%); and services (0.6% vs 0.7%). On the other hand, cost went down less for transport (-2.1% vs -2.4%); for durable goods (-3% vs -4.2%); and clothing & footwear (-7% vs -7.6%). In addition, cost of food rose at a faster pace (1.6% vs 0.5%), of which meals bought away from home (0.6% vs -1.3%). On a monthly basis, consumer prices went down 1.8 percent. source: Census and Statistics Department, Hong Kong
Inflation Rate in Hong Kong averaged 4.23 percent from 1981 until 2020, 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 November of 2020.
Inflation Rate in Hong Kong is expected to be 0.50 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 2.50 percent in 2021 and 2.40 percent in 2022, according to our econometric models.