Hong Kong: Inflation inches down in November
December 20, 2018
Inflation ticked down marginally from 2.7% in October to 2.6% in November. When accounting for the effects of one-off government relief measures, inflation reached 2.9% (October: 3.0%). The figure mostly reflected softer increases in the prices of transportation and clothing.
For the September–November period, the average of the month-on-month variations in consumer prices was 0.3% in seasonally-adjusted terms, up from 0.2% in the three-month period from August to October 2018. Meanwhile, annual average inflation was stable at October’s 2.3% in November.
A government spokesperson noted that:
“In the coming months, the underlying inflation rate will likely hover near the current level, as the earlier rises in fresh-letting residential rentals continue to feed through.”
Author: Joffrey Simonet, Economist