Hong Kong - Inflation
Inflation decelerates in October
Annual inflation receded from 6.6% in September to 5.2% in October. The reading overshot the 4.0% that markets had expected. According to the Census and Statistics Department, the high reading in September 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. There was not such an effect in October. A government spokesman explained that, “underlying inflation held largely stable in the recent period, having eased successively since late 2013. The headline inflation rate was higher than the underlying rate because the Government's rates concession ended in October.”
Consumer prices increased 0.7% over the previous month in seasonally-adjusted terms in October, which followed the 0.5% increase recorded in the previous month and marked the largest increase since December 2013. Meanwhile, annual average variation in consumer prices inched up from 4.2% in September to 4.3% in October.
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
|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||1.8||-0.27 %||Dec 04|
|Exchange Rate||7.75||-0.03 %||Dec 04|
|Stock Market||23,833||1.72 %||Dec 04|
See all the data and analysis available in each of our Regional and Country reports.
December 1, 2014
In October, retail sales rose 4.3% over the same month last year, which was down from the 6.6% increase tallied in September.
November 20, 2014
Annual inflation receded from 6.6% in September to 5.2% in October.
November 14, 2014
In the third quarter, the economy expanded 2.7% over the same quarter last year, which beat the 2.0% increase the market had expected.
November 7, 2014
The HSBC Purchasing Managers’ Index (PMI) fell from 49.8 in September to 47.7 in October, which marked a record low.
November 5, 2014
In September, retail sales rose 6.6% over the same month last year, which was well above the 2.8% increase tallied in August.