Hong Kong Inflation July 2016

Hong Kong

Hong Kong: Inflation inches down in July

August 22, 2016

Inflation came in at 2.3% in July, which was slightly below June’s 2.4%. The reading mainly reflected a decline in prices for durable goods and clothing and footwear. A government spokesman suggested that, looking ahead, “underlying inflation will likely stay modest in the near term, given the subdued global inflation, continued feed-through of the earlier softening in fresh-letting residential rentals and tame local cost pressure.”

For the three-month period from May to July, the average of the month-on-month variations in consumer prices was flat in seasonally-adjusted terms, which was above the 0.3% decrease tallied in the three months up to June. Meanwhile, annual average inflation came in at 2.6% in July for the fifth month in a row, marking the lowest readings since February 2011.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.3% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel expects inflation of 1.9%.

Author:, Economist

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Hong Kong Inflation Chart

Hong Kong Inflation July 2016 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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