Hong Kong Inflation August 2020

Hong Kong

Hong Kong: Consumer prices falls at milder pace on an annual basis in August

September 21, 2020

Consumer prices fell a seasonally-adjusted 0.20% from the previous month in August, a less pronounced decrease than July's 1.00% fall. The result was primarily due to rising prices for housing. In addition, price pressures for transportation declined at a more moderate rate.

Consumer prices declined 0.4% year-on-year in August, a smaller drop compared to July’s 2.3% fall. Meanwhile, the trend pointed down, with annual average inflation coming in at 1.6% in August (July: 1.9%).

FocusEconomics Consensus Forecast panelists forecast inflation to average 1.0% in 2020, which is down 0.3 percentage points from last month’s projection. In 2021, our panel projects inflation to average 1.8%, which is unchanged from the previous month’s forecast.


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Hong Kong Inflation Chart

Hong Kong Inflation August 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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