The annual inflation rate in Hong Kong fell to 2.5 percent in December 2018 from 2.6 percent in the previous month. It remained the lowest inflation rate since August, as prices slowed mostly due housing and electricity, gas and water. Inflation Rate in Hong Kong averaged 4.34 percent from 1981 until 2018, 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 2.50 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 2.80 percent in 2020, according to our econometric models.

Hong Kong Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-10-23 08:30 AM Inflation Rate YoY 2.7% 2.3% 2.5%
2018-11-20 08:30 AM Inflation Rate YoY 2.7% 2.7% 2.5%
2018-12-20 08:30 AM Inflation Rate YoY 2.6% 2.7% 2.6%
2019-01-22 08:30 AM Inflation Rate YoY 2.5% 2.6% 2.3%
2019-02-22 08:30 AM Inflation Rate YoY 2.5%
2019-03-21 08:30 AM Inflation Rate YoY
2019-04-23 08:30 AM Inflation Rate YoY 2.5%



Hong Kong Annual Inflation Rate Slows to 2.5% in December

The annual inflation rate in Hong Kong fell to 2.5 percent in December 2018 from 2.6 percent in the previous month. It remained the lowest inflation rate since August, as prices slowed mostly due to housing; food and electricity, gas and water.

Year-on-year, prices eased for housing (2.9 percent compared to 3.0 percent in November); food (2.9 percent compared to 3.0 percent); electricity, gas & water (3.8 percent compared to 4.0 percent); transport (1.8 percent compared to 1.6 percent); and miscellaneous services (1.2 percent compared to 3.1 percent). Also, cost declined further for clothing & footwear (-1.5 percent compared to -0.2 percent) and durable goods (-2.3 percent compared to -1.8 percent).

On a monthly basis, consumer prices went up 0.4 percent after a 0.2 percent gain in the prior month.

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; etc. -, was at 2.9 percent, unchanged from the previous month.

A Government spokesman said that the underlying inflation rate held largely stable at 2.9 percent in December 2018. For 2018 as a whole, the underlying inflation rate averaged 2.6 percent. In the near term, the upside risks to inflation should be contained, as imported inflation has stayed moderate and as pressures on local rentals have weakened somewhat of late. The Government will monitor the situation closely, particularly the impact on the lower-income people.


Census and Statistics Department | Stefanie Moya | stefanie.moya@tradingeconomics.com
1/22/2019 9:12:15 AM



Hong Kong Prices Last Previous Highest Lowest Unit
Inflation Rate 2.50 2.60 16.00 -6.10 percent [+]
Consumer Price Index CPI 108.30 107.90 108.30 21.40 Index Points [+]
GDP Deflator 107.40 106.70 107.40 14.00 Index Points [+]
Producer Prices 111.50 114.80 114.80 84.70 Index Points [+]
Export Prices 105.40 105.40 105.40 54.50 Index Points [+]
Import Prices 105.20 105.80 105.80 51.90 Index Points [+]
Producer Prices Change 3.70 3.80 9.59 -6.20 percent [+]
Inflation Rate Mom 0.20 0.20 3.10 -2.43 percent [+]
Food Inflation 2.90 3.00 8.20 -0.60 percent [+]
CPI Transportation 106.10 105.20 116.50 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 February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.50 2.60 16.00 -6.10 1981 - 2018 percent Monthly
2009/2010=100




Country Last Previous
Argentina 47.10 Dec/18
Australia 1.80 Dec/18
Brazil 3.78 Jan/19
Canada 2.00 Dec/18
China 1.90 Dec/18
Euro Area 1.40 Jan/19
France 1.20 Jan/19
Germany 1.40 Jan/19
India 2.05 Jan/19
Indonesia 2.82 Jan/19
Italy 0.90 Jan/19
Japan 0.30 Dec/18
Mexico 4.37 Jan/19
Netherlands 2.20 Jan/19
Russia 5.00 Jan/19
Saudi Arabia 2.20 Dec/18
Singapore 0.50 Dec/18
South Africa 4.50 Dec/18
South Korea 0.80 Jan/19
Spain 1.00 Jan/19
Switzerland 0.60 Jan/19
Turkey 20.35 Jan/19
United Kingdom 1.80 Jan/19
United States 1.60 Jan/19


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