Hong Kong Inflation September 2020

Hong Kong

Hong Kong: Consumer prices drop again in September

October 22, 2020

Consumer prices fell a seasonally-adjusted 0.80% in September over the previous month, following August's 0.20% fall. The sharper drop was largely due to declining prices for housing. In addition, utilities prices also contracted at a quicker rate.

Consumer prices fell 2.2% on an annual basis in September, a larger drop compared to August’s 0.4% fall. Lastly, annual average inflation dived to an over 10-year low of 1.1% in September (August: 1.6%).

FocusEconomics Consensus Forecast panelists forecast inflation to average 1.6% in 2020, which is down 0.2 percentage points from last month’s projection. In 2021, our panel projects inflation to average 2.2%.


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Hong Kong Inflation Chart

Hong Kong Inflation September 20 20

Note: Year-on-year and annual average variation of consumer price index in %.
Source: Census and Statistics Department Hong Kong and FocusEconomics Consensus Forecast.

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