Hong Kong Inflation

Hong Kong

Hong Kong: Inflation falls to over-three-year low in August

September 21, 2015

Inflation inched down from July’s 2.5% to 2.4% in August, which marked the lowest value since July 2012. The result was in line with market expectations. According to the Census and Statistics Department, August’s result was mainly driven by a special fuel rebate for electricity. A government spokesman added that, “inflationary pressures held largely stable in August. Looking ahead, the upside risks to inflation should remain limited in the near term, in view of the soft international commodity prices and import prices as well as the moderate local cost pressures.”

Consumer prices decreased 0.6% in August over the previous month in seasonally-adjusted terms, which contrasted July’s 0.3% increase and marked an almost-three-year low. Meanwhile, annual average inflation inched down from July’s 4.2% to 4.1% in August.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.2% in 2015, which is unchanged from last month’s forecast. For 2016, the panel expects inflation to remain at 3.2%.

Author:, Economist

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