Hong Kong Inflation January 2019

Hong Kong

Hong Kong: Inflation keeps declining at the outset of 2019

February 22, 2019

Inflation ticked down from 2.5% in December to 2.4% in January. When accounting for the effects of one-off government relief measures, inflation reached 3.0% in January, up from December’s 2.9% print. The figure mostly reflected an increase in the prices of private housing rentals and meals bought away from home. Meanwhile, annual average inflation ticked up from 2.4% in December to 2.5% in January.

For the November–January period, the average of the month-on-month variations in consumer prices was 0.1% in seasonally-adjusted terms, down from 0.2% in the three-month period from October to December 2018.

Regarding the inflation outlook, agovernment spokesperson noted that:

“In the near term, the upside risks to inflation should remain contained. The recent moderation in fresh-letting residential rentals could have a mitigating effect in the months ahead. The moderating global economic growth and the earlier strengthening of the US dollar vis-à-vis other major currencies should help keep external price pressures in check”.

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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HongKong Inflation January 2019

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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