Hong Kong Inflation April 2016

Hong Kong

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.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.4% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel expects inflation of 2.0%

Author: Marlène Rump, Senior Data Analyst

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Hong Kong Inflation Chart

Hong Kong Inflation April 2016

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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