Hong Kong Inflation April 2017

Hong Kong

Hong Kong: Inflation climbs in April

May 23, 2017

Inflation rose in April, coming in at 2.0% (March: 0.5%). April’s increase was due to rising food and transport prices. Housing prices, especially public housing rents, also sharply increased.

A government spokesperson suggested that, looking ahead, “inflation should remain contained in the near term, considering the low imported inflation as well as moderate local cost pressures.” Ongoing normalization of U.S. interest rates is likely to add downward pressure to consumer prices in the coming months, particularly private housing rents, as an expected capital flight corrects Hong Kong’s residential property prices.

For the three-month period from February to April, the average of the month-on-month variations in consumer prices was 0.2% in seasonally-adjusted terms, which was slightly above the nil average increase seen in the three months up to March. Meanwhile, annual average inflation was unchanged at 1.8% in April from a month earlier.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.0% in 2017, which is unchanged from last month’s forecast. For 2018, the panel expects inflation of 2.2%.

Author:, Economist

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Hong Kong Inflation Chart

HongKong Inflation April 2017

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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