Hong Kong Inflation May 2016

Hong Kong

Hong Kong: Inflation moderates in May

June 21, 2016

Inflation was 2.6% in May, which was a notch below April’s result of 2.7%. The moderation is 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 modest external price pressures, retreat in local rental inflation and subpar economic growth.”

For the three-month period from March to May 2016, the average of the month-on-month variations in consumer prices was 0.4% in seasonally-adjusted terms, which was higher than the flat result tallied in the three months up to April. Meanwhile, annual average inflation tallied 2.6% in May, which mirrored April’s result and is the lowest reading since February 2011.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.4% in 2016, which is down 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 May 2016 0

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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