Annual inflation came in at 3.9% in February, which was well below the 4.6% recorded in January. The print slightly overshot the 3.8% market analysts had expected and represented the lowest rate in nine months. According to the Census and Statistics Department, the result was mainly driven by higher prices for electricity, gas and water, and for housing. Annual average inflation inched down from 4.5% in January to 4.4% in February. In February, consumer prices rose 0.3% over the previous month in seasonally-adjusted terms, which was down from the 0.4% increase tallied in January. The weaker rate observed in February was mostly attributable to seasonal effects stemming from the Lunar New Year holiday, which fell in late January to early February this year versus 2013 when it occurred in mid-February. A government spokesman stated that, “inflation pressure remained largely contained.” In addition, the spokesman affirmed that, “Looking ahead, the generally mild imported inflation and the feed-through of the milder increases in fresh-letting residential rentals in 2013 should help contain the upside risks to inflation in the near term.” The government expects inflation to reach 4.6% in 2014. FocusEconomics Consensus Forecast panelists expect inflation to average 3.8% in 2014, which is up 0.1 percentage points from last month's forecast. For 2015, the panel expects annual average inflation to moderate to 3.5%.
Hong Kong Inflation
Inflation slows to nine-month low in February
March 20, 2014
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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.