Hong Kong Inflation June 2020

Hong Kong

Hong Kong: Inflation falls to lowest level since March 2017 in June

July 21, 2020

Consumer prices were unchanged in June over the last month, matching the flat result seen in May. Looking at the details of the release, prices for housing increased at a softer rate in June, while price pressures for transportation dropped at a faster pace. Conversely, utilities prices rose in the month.

Inflation came in at 0.7% in June, which was down from May’s 1.5% print. June's reading represented the weakest inflation rate since March 2017. Annual average inflation fell to 2.4% in June (May: 2.6%).

FocusEconomics Consensus Forecast panelists expect inflation to average 1.4% in 2020, which is down 0.1 percentage points from the previous month’s forecasts. In 2021, our panel expects inflation to average 1.9%.


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Hong Kong Inflation Chart

Hong Kong Inflation June 20 20 0

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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