Hong Kong Inflation Rate

Inflation rate in Hong Kong came in at 2.7 percent in October 2018, the same as in the previous month. Prices increased mainly for electricity, gas & water; food (excluding meals bought away from home) and housing; while cost fell further for durable goods. The government expects moderate inflationary pressures in the rest of the year, due to rising local costs and higher residential rents. Inflation Rate in Hong Kong averaged 4.35 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 2.40 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 2.40 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.

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Calendar	GMT		Actual	Previous	TEForecast
2018-08-21	08:30 AM	Inflation Rate YoY	2.4%	2.4%	2.5%
2018-09-20	08:30 AM	Inflation Rate YoY	2.3%	2.4%	2.4%
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		2.7%	2.6%
2019-01-22	08:30 AM	Inflation Rate YoY			2.40%
2019-02-22	08:30 AM	Inflation Rate YoY

Hong Kong Inflation Rate Steady at 2.7% in October

Inflation rate in Hong Kong came in at 2.7 percent in October 2018, the same as in the previous month. Prices increased mainly for electricity, gas & water; food (excluding meals bought away from home) and housing; while cost fell further for durable goods. The government expects moderate inflationary pressures in the rest of the year, due to rising local costs and higher residential rents.

Year-on-year, prices advanced faster for electricity, gas & water (4.1 percent vs 3.8 percent in September); food (3.9 percent vs 3.6 percent); housing (3.0 percent vs 2.9 percent) and transport (1.6 percent vs 1.3 percent). Contrarily, cost slowed for clothing & footwear (2.0 percent vs 2.5 percent) and miscellaneous services (2.7 percent vs 2.9 percent); and continued to fall for durable goods (-1.8 percent).

On a monthly basis, consumer prices edged up 0.2 percent, the same as in the preceding 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. -, dropped to 3.0 percent (from 3.1 percent in September), due to smaller increases in the prices of fresh vegetables and the charges for package tours.

The Government will continue to monitor the situation closely, particularly the impact on the lower-income people.

Census and Statistics Department | Gabriela Costa | gabriela.costa@tradingeconomics.com
11/20/2018 9:08:08 AM

Recent Releases

Hong Kong Inflation Rate Picks Up to 2.7% in September
Inflation rate in Hong Kong went up to 2.7 percent in September 2018 from 2.3 percent in the previous month. Prices increased mainly for food; electricity, gas & water and housing. The government expects moderate inflationary pressures in the rest of the year due to rising local costs, along with the sustained economic expansion, and higher residential rents.
Published on 2018-10-23

Hong Kong Inflation Rate Edges Down to 2.3% in August
Inflation rate in Hong Kong declined to 2.3 percent in August of 2018 from 2.4 percent in each of the previous two months. Prices slowed mainly for food, clothing & footwear, transport and utilities. The government expects inflationary pressures to rise in the next months, due to a gradual increase in global inflation and residential rents. However, the inflation rate should remain within a moderate range for 2018 as a whole.
Published on 2018-09-20

Hong Kong Inflation Rate Steady at 2.4% in July
Inflation rate in Hong Kong came in at 2.4 percent in July of 2018, the same as in the previous month. Prices slowed mainly for food while they continued to rise for housing, miscellaneous services and transport.
Published on 2018-08-21

Hong Kong Inflation Rate at 3-Month High
Inflation Rate in Hong Kong went up to 2.4 percent in June of 2018 from a 2.1 percent gain in May. It was the highest inflation since March, mainly due to higher prices for private housing rentals, salt-water fish and package tours. Netting out the effects of all Government's one-off relief measures - such as tax cuts for lower income individuals; extra allowance for the elderly, child & disabled people; students' grants; etc. -, the inflation was 2.7 percent, also higher than 2.4 percent in May.
Published on 2018-07-23

Hong Kong Prices	Last	Previous	Highest	Lowest	Unit
Inflation Rate	2.70	2.70	16.00	-6.10	percent	[+]
Consumer Price Index CPI	107.70	107.40	107.70	21.40	Index Points	[+]
GDP Deflator	107.40	106.70	107.40	14.00	Index Points	[+]
Producer Prices	114.80	112.30	114.80	84.70	Index Points	[+]
Export Prices	105.00	104.30	105.00	54.50	Index Points	[+]
Import Prices	105.50	105.30	105.50	51.90	Index Points	[+]
Producer Prices Change	3.80	3.80	9.59	-6.20	percent	[+]
Inflation Rate Mom	0.20	0.20	3.10	-2.43	percent	[+]
Food Inflation	3.90	3.60	8.20	-0.60	percent	[+]
CPI Transportation	105.00	105.70	116.50	98.20	Index Points	[+]

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 December of 2018.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	2.70	2.70	16.00	-6.10	1981 - 2018	percent	Monthly	2009/2010=100

Export Data API

Country	Last		Previous	Range
Argentina	48.00	Nov/18	45.5	20263 : -7	%
Australia	1.90	Sep/18	2.1	23.9 : -1.3	%
Brazil	4.05	Nov/18	4.56	6821 : 1.65	%
Canada	2.40	Oct/18	2.2	21.6 : -17.8	%
China	2.20	Nov/18	2.5	28.4 : -2.2	%
Euro Area	1.90	Nov/18	2.2	5 : -0.7	%
France	1.90	Nov/18	2.2	18.8 : -0.7	%
Germany	2.30	Nov/18	2.5	11.54 : -7.62	%
India	2.33	Nov/18	3.38	12.17 : 1.54	%
Indonesia	3.23	Nov/18	3.16	82.4 : -1.17	%
Italy	1.60	Nov/18	1.6	25.64 : -0.6	%
Japan	1.40	Oct/18	1.2	24.9 : -2.5	%
Mexico	4.72	Nov/18	4.9	180 : 2.13	%
Netherlands	2.00	Nov/18	2.1	11.19 : -1.3	%
Russia	3.80	Nov/18	3.5	2333 : 2.2	%
Saudi Arabia	2.40	Oct/18	2.1	11.1 : -2	%
Singapore	0.70	Oct/18	0.7	34 : -3.1	%
South Africa	5.20	Nov/18	5.1	20.7 : 0.2	%
South Korea	2.00	Nov/18	2	32.5 : 0.2	%
Spain	1.70	Nov/18	2.3	28.43 : -1.37	%
Switzerland	0.90	Nov/18	1.1	11.92 : -1.4	%
Turkey	21.62	Nov/18	25.24	139 : -4.01	%
United Kingdom	2.40	Oct/18	2.4	8.5 : -0.1	%
United States	2.20	Nov/18	2.5	23.7 : -15.8	%