Hong Kong Inflation February 2019

Hong Kong

Hong Kong: Inflation declines further in February

March 21, 2019

Inflation fell from 2.4% in January to 2.1% in February. When accounting for the effects of one-off government relief measures, inflation declined to 2.6% in February, down from 3.0% in January. The figure mostly reflected a softer increase in the prices of meals bought away from home and package tours. Meanwhile, annual average inflation ticked down from 2.5% in January to 2.4% in February.

For the December–February period, the average of the month-on-month variation in consumer prices was 0.2% in seasonally-adjusted terms, up from 0.1% in the three-month period from November to January.

Regarding the inflation outlook, a government spokesperson noted that:

“Looking ahead, the upside risks to inflation should remain contained. The earlier moderation in fresh-letting residential rentals could have a mitigating effect in the period ahead, and external price pressures have also stayed moderate recently”.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.2% in 2019, which is down 0.1 percentage points from last month’s forecast. The panel expects inflation to average 2.2% again in 2020.

Author:, Economist

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