Hong Kong: Inflation edges up on higher food prices in December
January 23, 2018
Inflation ticked up to 1.7% in December, a modest acceleration from the 1.6% reading of November. December’s print was in large part due to higher prices for food.
For the three-month period from October to December, the average of the month-on-month variations in consumer prices was 0.3% in seasonally-adjusted terms, marginally higher than the 0.2% average increase seen in the three months up to November. Furthermore, annual average inflation also edged up to 1.5% for the full year 2017, from 1.4% in the 12 months up to November.
A government spokesperson noted that:
“Looking ahead, inflation pressure should remain moderate in the near term, considering the still-modest global inflation and steady rises in local costs.”
Author: Joffrey Simonet, Economist