Hong Kong: Inflation accelerates slightly in June
July 21, 2015
Inflation inched up from 3.0% in May to 3.1% in June. The result represented the highest increase in three months and was in line with market expectations. According to the Census and Statistics Department, June’s result was mainly affected by higher food prices. A government spokesman explained that, “inflation held largely stable in June. Looking ahead, given the mild imported inflation and modest growth pace of the local economy, consumer price pressures should remain contained in the near term.”
Consumer prices decreased 0.2% in June over the previous month in seasonally-adjusted terms, mirroring May’s reading. Meanwhile, annual average inflation inched down from May’s 4.4% to 4.3% in June.
Author: Eric Denis , Economist