Hong Kong Inflation January 2016

Hong Kong

Hong Kong: Inflation accelerates in January

February 23, 2016

Inflation rose from December’s 2.4% to 2.7% in January. The result was in line with market expectations and marked a seven-month high. The result came mostly on the back of an increase in prices of fresh vegetables and a softer decline in prices for package tours. A government spokesman added that, “looking ahead, the upside risks to inflation should remain limited in the near term, given the muted global inflation and soft international commodity prices, while local cost increases will likely be restrained by the subpar economic conditions and the retreat in rental cost pressures.”

Consumer prices rose 0.1% in January over the previous month in seasonally-adjusted terms, which was below December’s 0.7% increase. Meanwhile, annual average inflation inched down from December’s 3.0% to 2.9% in January, which marked the lowest reading since April 2011.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.1% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel expects inflation at 2.9%

Author:, Economist

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Hong Kong Inflation Chart

Hong Kong Inflation January 2015 0

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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