Hong Kong - Inflation
Inflation inches down to 17-month low in June
Annual inflation inched down from 3.7% in May to 3.6% in June, which represented the lowest rate since January 2013. The print just undershot the 3.7% market analysts had expected. According to the Census and Statistics Department, the result was mainly driven by lower price increases in housing, the electricity, gas and water category as well as in clothing and footwear.
In June, consumer prices rose 0.2% over the previous month in seasonally-adjusted terms, which was in line with the increase recorded in the previous month. As a result of the softer year-on-year increase, annual average inflation inched down from the previous month’s 4.4% to 4.3% in June.
A government spokesman stated that, “inflationary pressures continued an easing trend,” mainly due to, “a moderated rise in private housing rentals and the rather modest imported inflation.” In addition, the spokesman noted that, “looking ahead, the upside risks to inflation should remain limited in the near term, as the slower private rental increases in recent periods will continue to feed through to consumer prices and as external price pressures are likely to remain contained.“
The government expects inflation to reach 4.6% in 2014. FocusEconomics Consensus Forecast panelists expect inflation to average 3.8% in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, the panel expects annual average inflation to moderate to 3.4%.
Hong Kong - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.6||2.3||5.3||4.1||4.3|
5 years of economic forecasts for more than 30 economic indicators.
Hong Kong Inflation Chart
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.
Hong Kong Facts
|Bond Yield||2.0||0.0 %||Jul 24|
|Exchange Rate||7.75||-0.01 %||Jul 24|
|Stock Market||24,142||0.71 %||Jul 24|
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July 21, 2014
Annual inflation inched down from 3.7% in May to 3.6% in June, which represented the lowest rate since January 2013.
July 4, 2014
The HSBC Purchasing Managers Index (PMI) rose from 49.1 in May to 50.1 in June.
July 3, 2014
In May, retail sales tumbled 4.7% over the same month last year, which followed the revised 9.6% drop tallied in April (previously reported: -9.5% year-on-year).
June 23, 2014
Annual inflation came in at 3.7% in May, which matched the result tallied in the previous month and marked the lowest rate since March 2013.
June 5, 2014
The HSBC Purchasing Managers Index (PMI) fell from 49.7 in April to 49.1 in May.