Hong Kong: Inflation inches down in June
July 20, 2017
Inflation inched down to 1.9% in June from 2.0% in May. June’s deceleration was partly due to slower growth in transport prices, while higher food and housing prices—especially public housing rents—once again drove the overall increase.
A government spokesperson noted limited external price pressures and the ongoing steady increase in local costs. “Upside risks to inflation should be limited in the near term, considering that these developments are likely to sustain in the coming months,” added the spokesperson.
For the three-month period from April to June, the average of the month-on-month variations in consumer prices was 0.2% in seasonally-adjusted terms, which was a notch lower than the 0.3% average increase seen in the three months up to May. Meanwhile, annual average inflation was stable from a month earlier at 1.7%.
Author: Christopher Thomas, Economist