Hong Kong Inflation

Hong Kong

Hong Kong: Inflation slows to four-month low in December

January 22, 2015

Annual inflation inched down from 5.1% in November to 4.9% in December. The reading remained above the 4.7% that markets had expected. According to the Census and Statistics Department, December’s result was driven by higher prices for electricity, gas and water as well as for housing. A government spokesman explained that, “inflation eased further in December, mainly reflecting the benign global inflation, with slower year-on-year increases in food prices and enlarged declines in the prices of clothing and footwear, durable goods as well as motor fuel.”

Consumer prices increased 0.5% over the previous month in seasonally-adjusted terms in December, which followed the 1.6% increase recorded in the previous month. Meanwhile, in the full year 2014, inflation rose to 4.4% from 4.3% in 2013 and represented the highest reading in three years.

FocusEconomics Consensus Forecast panelists expect inflation to average 3.5% in 2015, which is unchanged from last month’s forecast. For 2016, the panel expects annual average inflation to moderate to 3.2%.

Author:, Economist

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Hong Kong Inflation Chart

Hong Kong Inflation December 2014

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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