Hong Kong Inflation May 2019

Hong Kong

Hong Kong: Inflation inches down in May

June 21, 2019

Inflation declined slightly to 2.8% in May, from 2.9% in April. When accounting for the effects of one-off government relief measures, inflation also came in at 2.8%, down from 2.9% in April. The print was primarily driven by a decrease in transport prices as well as moderating price pressures for holiday package tours.

For the March–May period, the average of the month-on-month variation in consumer prices was 0.3% in seasonally-adjusted terms, down from 0.4% in the three-month period ending in April.

Regarding the inflation outlook, a government spokesperson noted that:

“Looking ahead, inflation will likely remain moderate in the near term, in tandem with the easing in fresh-letting residential rentals earlier on and in external price pressures.”

FocusEconomics Consensus Forecast panelists expect inflation to average 2.3% in 2019, which is up 0.1 percentage points from last month’s forecast. The panel expects inflation to average 2.2% in 2020.

Author:, Economist

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