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
|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||1.94 %||Oct 22|
|Exchange Rate||7.76||0.01 %||Oct 22|
|Stock Market||23,404||1.37 %||Oct 22|
See all the data and analysis available in each of our Regional and Country reports.
October 22, 2014
Annual inflation jumped from 3.9% in August to 6.6% in September.
October 21, 2014
The student-led pro-democracy protest movement that broke out in Hong Kong in late September appeared to be losing steam as it entered its third week, but tensions flared up again on 15 October.
October 7, 2014
The HSBC Purchasing Managers’ Index (PMI) inched up from 49.6 in August to 49.8 in September.
September 29, 2014
In August, retail sales rose 2.8% over the same month last year, which contrasted the 4.5% drop tallied in July.
September 22, 2014
Annual inflation inched down from 4.0% in July to 3.9% in August.