Annual inflation jumped from 1.6% in July, the lowest level seen since July 2010, to 3.7% in August. The reading fell short of market expectations of a 3.9% rate. According to the statistical institute, prices for housing rose notably due to the timing of public housing rentals waivers, which were conducted in July and August this year, but in August and September last year, distorting the annual comparison. Annual average inflation, however, eased from 4.9% in July to 4.7%, the lowest level since September 2011. A government spokesman stated that "given the more difficult economic environment and the more moderate increases in import prices, there should still be some room for inflation to ease further in the near term". The government expects headline inflation to average 3.7% this year.
Hong Kong Inflation
Inflation bounces back in August
September 20, 2012
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Hong Kong Inflation Chart
Note: Year-on-year and annual average variation of consumer price index in %.
Source: Census and Statistics Department Hong Kong.
Hong Kong Economic News
October 5, 2016
The Nikkei Hong Kong Purchasing Managers’ Index (PMI) released by IHS Markit rose from August’s 49.0 to 49.3 in September.
September 30, 2016
Hopes last month that a recovery in retail sales might be underway were dampened in August on the back of declining numbers of mainland tourists.
September 22, 2016
Inflation came in at 4.3% in August, which was notably above July’s 2.3%.
September 5, 2016
The Nikkei Hong Kong Purchasing Managers’ Index (PMI) released by IHS Markit climbed from July’s 47.2 to 49.0 in August.
August 29, 2016
Although tourist visitors increased for the first time in July after 13 months of successive drops, the effect on retail sales appears to have been limited.