Hong Kong Inflation June 2019

Hong Kong

Hong Kong: Inflation jumps in June

July 22, 2019

Inflation accelerated to 3.3% in June from 2.8% in May. When accounting for the effects of one-off government relief measures, inflation came in at 3.2% in June, also up from 2.8% in May. The print was primarily driven by higher prices for food and housing.

For the April–June period, the average of the month-on-month variation in consumer prices was 0.5% in seasonally-adjusted terms, up from 0.3% in the three-month period ending in May.

Regarding the inflation outlook, a government spokesperson noted: “Looking ahead, while overall price pressures should remain largely contained in view of the earlier easing in fresh-letting residential rentals and modest global inflation, the inflation rate in the near term may hinge on the supply situation and thus prices of fresh pork.”

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

Author:, Economist

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