Hong Kong Inflation October 2018

Hong Kong

Hong Kong: Inflation stable in October

November 20, 2018

Inflation remained stable at September’s 2.7% in October. When accounting for the effects of one-off government relief measures, inflation reached 3.0% (September: 3.1%). The figure mostly reflected softer increases in the prices of fresh vegetables and package holiday tours.

For the August–October period, the average of the month-on-month variations in consumer prices was 0.2% in seasonally-adjusted terms, matching the print of the three-month period from July to September 2018. Meanwhile, annual average inflation inched up from 2.2% in September to 2.3% in October.

A government spokesperson noted that:

“The inflation rate may still be subject to some mild upward pressure in the coming months, due to rising local costs and continued feed-through of the earlier rises in fresh-letting residential rentals. The Government will monitor the situation closely, particularly the impact on the lower-income people.”

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

Author:, Economist

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Hong Kong Inflation Chart

HongKong Inflation October 2018

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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