Hong Kong Inflation

Hong Kong

Hong Kong: Inflation inches down in March

April 21, 2015

Inflation inched down from 4.6% in February to 4.5% in March. The print was in line with the 4.5% that the markets had expected. According to the Census and Statistics Department, March’s result was driven by higher prices for electricity, gas and water as well as for housing. A government spokesman explained that, “inflationary pressure remained contained in recent months, with the year-on-year rate of change in underlying Composite CPI receding from 3.3% in the fourth quarter of 2014 to 2.7% in the first quarter of 2015, thanks to the abating imported inflation and moderate domestic cost pressures.”

Consumer prices increased 0.2% in March over the previous month in seasonally-adjusted terms, inching up from the 0.1% increase tallied in February. Meanwhile, annual average variation in consumer prices rose from 4.4% in February to 4.5% in March, marking the highest value in over two years.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.4% in 2015, which is unchanged from last month’s forecast. For 2016, the panel expects average inflation to moderate to 3.2%.

Author:, Economist

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Hong Kong Inflation Chart

Hong Kong Inflation March 2015

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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