Hong Kong Inflation September 2018

Hong Kong

Hong Kong: Inflation picks up in September

October 23, 2018

Inflation rose to 2.7% in September, up from 2.3% in August. When accounting for the effects of one-off government relief measures, inflation reached 3.1% (August: 2.6%). The print mostly reflected “increases in school fees and the upward adjustment in public housing rentals”.

For the July–September period, the average of the month-on-month variations in consumer prices was 0.2% in seasonally-adjusted terms, matching the result in the three months up to August. Meanwhile, annual average inflation inched up from 2.1% in August to 2.2% in September.

A government spokesperson noted that:

“Looking ahead, the inflation rate may still be subject to some mild upward pressure in the rest of the year, as local costs have increased along with the sustained economic expansion, and as the earlier rises in fresh-letting residential rentals would also continue to feed through”

FocusEconomics Consensus Forecast panelists expect inflation to average 2.3% in 2019, which is unchanged from last month’s forecast. The panel also expects inflation to average 2.4% in 2020.

Author:, Economist

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Hong Kong Inflation Chart

HongKong Inflation September 2018 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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