Hong Kong Inflation March 2017

Hong Kong

Hong Kong: Inflation rises in March

March 31, 2017

Inflation returned in March, coming in at 0.5% (February -0.1%). The upswing was due to an increase in food prices. Meanwhile, transport and housing prices rose at the same pace as in February.

A government spokesperson suggested that, looking ahead, “inflation pressure should remain contained in the near term.” Ongoing normalization of U.S. interest rates is likely to add further downward pressure to consumer prices, particularly housing and rents, as an expected capital flight corrects Hong Kong’s residential property prices.

For the three-month period from January to March, the average of the month-on-month variations in consumer prices was zero in seasonally-adjusted terms, and came in slightly above the 0.1% average decline seen in the three months up to February. Meanwhile, annual average inflation was 1.8% in March, coming in below February’s 2.0% reading.

FocusEconomics Consensus Forecast panelists expect inflation to average 2.0% in 2017, which is unchanged from last month’s forecast. For 2018, the panel expects inflation of 2.2%.

Author:, Economist

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Hong Kong Inflation Chart

Hong Kong Inflation March 2017 1

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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