In February, consumer prices dropped 0.2% over the previous month, which contrasted the 0.9% increase recorded in January. According to the statistical institute, lower prices for clothing and footwear as well as for services were the main drivers behind the monthly drop. Annual inflation fell to 4.7% in February from 6.1% in January, exceeding market expectations which had inflation moderating to 5.2%. However, the reading was influenced by a base effect due to the Lunar New Year celebration, which had led inflation to spike in January. Despite the decline, annual average inflation inched up from 5.5% in January to 5.6% in February. A government spokesman stated that ?with global food prices peaking out since early 2011 as well as a slowing local economy, inflation is expected to come down over the course of 2012.? The government expects headline inflation to moderate to 3.5% this year.
Hong Kong Inflation
Inflation moderates sharply in February
March 22, 2012
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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.