Hong Kong: Inflation moderates in April
May 23, 2016
Inflation in April tallied 2.7%, which was below March’s revised result of 2.9% (previously reported: 3.0%). The moderation was attributed to a decline in prices for durable goods and apparel. A government spokesman added that, “looking ahead, upside risks to inflation should remain contained in the near term, given the soft import prices amid subdued global inflation, retreat in local rental inflation, and moderate upward pressures on other local cost components.”
For the three-month period from February to April 2016, the average of the month-on-month variations in consumer prices was flat in seasonally-adjusted terms, which was lower than the 0.3% increase tallied in the three months up to March. Meanwhile, annual average inflation tallied 2.6% in April, which mirrored March’s revised result (previously reported: 2.7%) and marked the lowest reading since February 2011.