In March, consumer prices rose 0.3% over the previous month, well below the 1.1% rise recorded in February. The increase was driven by higher prices for alcoholic drinks and tobacco, which increased 17.1% over the previous month due to the increase in tobacco duty. Lower prices for food and miscellaneous services mitigated the impact of the tax rise. In spite of the subdued monthly price increase, annual inflation jumped from 3.7% in February to 4.6% in March, which exceeded market analyst expectations of 4.2% and marked the fastest pace since August 2008. As a result, annual average inflation rose from 2.7% in February to 2.9%. A government spokesman confirmed that consumer prices are subject to upward pressures in the near term, due to rising food prices and private residential rentals. The government sees inflation averaging 4.5% this year.
Hong Kong Inflation
Inflation jumps to highest level in more than two years
April 21, 2011
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Hong Kong Economic News
October 5, 2016
The Nikkei Hong Kong Purchasing Managers’ Index (PMI) released by IHS Markit rose from August’s 49.0 to 49.3 in September.
September 30, 2016
Hopes last month that a recovery in retail sales might be underway were dampened in August on the back of declining numbers of mainland tourists.
September 22, 2016
Inflation came in at 4.3% in August, which was notably above July’s 2.3%.
September 5, 2016
The Nikkei Hong Kong Purchasing Managers’ Index (PMI) released by IHS Markit climbed from July’s 47.2 to 49.0 in August.
August 29, 2016
Although tourist visitors increased for the first time in July after 13 months of successive drops, the effect on retail sales appears to have been limited.