Hong Kong - Inflation

Annual inflation accelerates in September

Annual inflation jumped from 3.9% in August to 6.6% in September. September’s reading overshot the 6.2% that markets had expected and marked the highest increase in 14 months. According to the Census and Statistics Department, the reading was mainly due to the low base of comparison, which resulted from the government’s one-off payment for public housing rentals in September of last year. According to a government spokesman, “excluding the effect of the government's one-off relief measures, underlying inflation went up only marginally in September, on account of the upward adjustment in public housing rentals. Prices of basic foodstuffs and private housing rentals actually showed slower increases, while price increases for most other components remained moderate.”

Consumer prices increased 0.5% over the previous month in seasonally-adjusted terms in September, which contrasted the 0.4% decrease recorded in the previous month and marked the largest increase since December 2013. As a result of the acceleration in annual inflation, annual average variation in consumer prices inched up from 4.1% in August to 4.2% in September.

The government expects inflation to reach 4.4% in 2014. FocusEconomics Consensus Forecast panelists expect inflation to average 3.9% in 2014, which is unchanged from last month’s forecast. For 2015, the panel expects annual average inflation to moderate to 3.5%, which is also unchanged from last month’s forecast.

Hong Kong - Inflation Data

2009   2010   2011   2012   2013  
Inflation Rate (CPI, annual variation in %)0.6  2.3  5.3  4.1  4.3  

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Hong Kong Inflation Chart


Hong Kong Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.

Hong Kong Facts

Value Change Date
Bond Yield1.92.36 %Oct 30
Exchange Rate7.750.0 %Oct 30
Stock Market23,702-0.49 %Oct 30

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