Hong Kong: Inflation accelerates in May
June 22, 2015
Inflation inched up from 2.8% in April to 3.0% in May. The result was in line with market expectations. According to the Census and Statistics Department, May’s result was mainly affected by the increase in the prices of fresh vegetables. A government spokesman explained that, “underlying consumer price inflation remained moderate in May. Looking ahead, given the mild imported inflation and modest growth pace of the local economy, the upside risks to inflation should be limited in the near term.”
Consumer prices decreased 0.2% in May over the previous month in seasonally-adjusted terms, mirroring April’s reading. Meanwhile, annual average variation in consumer prices in May remained stable at April’s 4.4%.
Author: Eric Denis , Economist