Inflation in Hong Kong
Hong Kong - Inflation
Inflation eases in September
Consumer prices fell a seasonally-adjusted 0.70% in September over the previous month, after falling 0.10% in August. Looking at the details of the release, prices for housing fell at a steep pace in September, while prices for transportation and alcoholic beverages also decreased relative to August.
Inflation came in at 1.4% in September, down from August’s 1.6%. Meanwhile, the trend pointed up, with annual average inflation coming in at 0.9% in September (August: 0.6%).
Commenting on the inflation outlook for next year, analysts at the EIU noted:
“Consumer price inflation will pick up to 2.1% in annual average terms in 2022, from 1.6% in 2021, as steep global commodity price increases from the year before feed through into retail prices. There will be only modest inflationary pressure from other sources. In particular, private residential rents (accounting for nearly a third of the index) will stagnate at best in annual average terms, following a period of outright deflation in 2021.”
FocusEconomics Consensus Forecast panelists forecast inflation to average 1.8% in 2021, which is from last month’s projection, and 2.0% in 2022.
Hong Kong - Inflation Data
|Inflation Rate (CPI, annual variation in %)||3.0||2.4||1.5||2.4||2.9|
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||1.82||3.38 %||Dec 31|
|Exchange Rate||7.79||-0.11 %||Jan 01|
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November 4, 2021
Retail sales increased 55.5% in year-on-year terms in September, which followed August's 63.2% increase.
November 3, 2021
The IHS Markit Purchasing Managers’ Index (PMI) fell to 50.8 in October from September's 51.7.
October 21, 2021
Consumer prices fell a seasonally-adjusted 0.70% in September over the previous month, after falling 0.10% in August.
October 4, 2021
Retail sales increased 14.7% year-on-year in August (July: +5.0% yoy).
October 4, 2021
The IHS Markit Purchasing Managers’ Index (PMI) fell to 51.7 in September from August's 53.3.