Hong Kong Inflation March 2016

Hong Kong

Hong Kong: Inflation inches down in March

April 21, 2016

Inflation inched down from February’s 3.1% to 3.0% in March. The moderation was attributed to a slower price increase in basic foodstuff. Furthermore, prices for durable goods declined in March. A government spokesman added that, “looking ahead, the upside risks to inflation should remain limited in the near term, given low global inflation, while local cost increases will likely be restrained by the subpar economic conditions and the retreat in rental cost pressures.”

For the three-month period from January to March 2016, consumer prices rose 0.3% on average over the previous month in seasonally-adjusted terms, which was inferior to the 0.4% increase tallied in the three months up to February. Meanwhile, annual average inflation inched down from February’s 2.8% to 2.7%, which marked the lowest reading since February 2011.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.5% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel expects inflation of 2.3%

Author: Marlène Rump, Senior Data Analyst

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