The annual inflation rate in Hong Kong rose to 3.5 percent in August 2019 from 3.3 percent in the previous month. It was the highest inflation rate since August 2016, mainly boosted by food and transport prices. Inflation Rate in Hong Kong averaged 4.31 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 3.10 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
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-21 08:30 AM Inflation Rate YoY May 2.8% 2.9% 2.8%
2019-07-22 08:30 AM Inflation Rate YoY Jun 3.3% 2.8% 2.7% 2.6%
2019-08-20 08:30 AM Inflation Rate YoY Jul 3.3% 3.3% 2.9%
2019-09-20 08:30 AM Inflation Rate YoY Aug 3.5% 3.3% 2.5% 3.5%
2019-10-22 08:30 AM Inflation Rate YoY Sep 3.5% 3.1%
2019-11-21 08:30 AM Inflation Rate YoY Oct 2.9%
2019-12-20 08:30 AM Inflation Rate YoY Nov 2.7%

Hong Kong August Inflation Rate Rises to 3-Year High

The annual inflation rate in Hong Kong rose to 3.5 percent in August 2019 from 3.3 percent in the previous month. It was the highest inflation rate since August 2016, mainly boosted by food and transport prices.

Year-on-year, prices advanced further for food (6.3 percent from 5.9 percent in July), driven by food, excluding meals bought away from home (14.2 percent from 12.8 percent); and transport (2.9 percent from 1.9 percent). In addition, cost dropped less for electricity, gas and water (-5.2 percent from -5.9 percent); and clothing and footwear (-0.6 percent from -2.0 percent). On the other hand, prices slowed for housing (3.9 percent from 4.0 percent); miscellaneous goods (1.3 percent from 2.7 percent); miscellaneous services (1.3 percent from 1.4 percent); and alcoholic drinks and tobacco (a flat reading from 2.4 percent). Also, cost of durable goods declined at a faster pace (-1.5 percent from -1.2 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 went up to 4.1 percent from 3.9 percent in July.

"Looking ahead, modest global inflation and sluggish local economic growth should continue to help contain overall inflation.  Yet, food inflation will probably stay elevated in the near term due to high prices of fresh pork. The Government will continue to monitor the inflation situation closely, particularly the impact on the lower-income people.", a government spokesman said.

Census and Statistics Department | Stefanie Moya |
9/20/2019 8:49:28 AM

Hong Kong Prices Last Previous Highest Lowest Unit
Inflation Rate 3.50 3.30 16.00 -6.10 percent [+]
Consumer Price Index CPI 110.90 110.70 110.90 21.40 Index Points [+]
GDP Deflator 106.30 105.60 106.30 13.60 Index Points [+]
Producer Prices 110.50 113.20 114.80 84.70 Index Points [+]
Export Prices 103.00 103.90 105.50 54.50 Index Points [+]
Import Prices 104.10 103.80 105.80 51.90 Index Points [+]
Producer Prices Change 0.80 0.70 9.59 -6.20 percent [+]
Inflation Rate Mom 0.20 0.50 3.10 -2.43 percent [+]
Food Inflation 6.30 5.90 8.20 -0.60 percent [+]
CPI Transportation 108.50 108.70 116.50 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 October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.30 16.00 -6.10 1981 - 2019 percent Monthly

Country Last Previous
Argentina 53.60 Aug/19
Australia 1.60 Jun/19
Brazil 2.89 Sep/19
Canada 1.90 Aug/19
China 2.80 Aug/19
Euro Area 0.90 Sep/19
France 0.90 Sep/19
Germany 1.20 Sep/19
India 3.21 Aug/19
Indonesia 3.39 Sep/19
Italy 0.40 Sep/19
Japan 0.30 Aug/19
Mexico 3.00 Sep/19
Netherlands 2.60 Sep/19
Russia 4.00 Sep/19
Saudi Arabia -1.10 Aug/19
Singapore 0.50 Aug/19
South Africa 4.30 Aug/19
South Korea -0.40 Sep/19
Spain 0.10 Sep/19
Switzerland 0.10 Sep/19
Turkey 9.26 Sep/19
United Kingdom 1.70 Aug/19
United States 1.70 Sep/19