Hong Kong Inflation

Hong Kong

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%.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.5% in 2015, which is up 0.1 percentage points from last month’s forecast. For 2016, the panel expects inflation to moderate to 3.3%.

Author:, Economist

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Hong Kong Inflation Chart

Hong Kong Inflation May 2015

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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