Hong Kong Inflation December 2017

Hong Kong

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.”

FocusEconomics Consensus Forecast panelists expect inflation to average 2.3% in 2018, which is unchanged from last month’s forecast. For 2019, the panel also expects inflation to average 2.3%.

Author:, Economist

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Hong Kong Inflation Chart

HongKong Inflation December 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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