Hong Kong: Inflation eases in July
August 20, 2015
Inflation fell from 3.1% in June to 2.5% in July. The result represented the slowest increase in three years and was below market expectations of a 2.7% rise. According to the Census and Statistics Department, July’s result was mainly affected by higher food and housing prices. A government spokesman explained that, “underlying consumer price inflation stayed moderate in July. Looking ahead, given the muted global inflation, soft international commodity prices and moderate local cost pressures, the upside risks to inflation should remain limited in the near term.”
Consumer prices increased 0.3% in July over the previous month in seasonally-adjusted terms, contrasting June’s 0.2% decrease. Meanwhile, annual average inflation inched down from June’s 4.3% to 4.2% in July.
Author: Eric Denis , Economist