Hong Kong: Inflation ticks up in July
August 22, 2017
Inflation inched up to 2.0% in July from 1.9% in June. July’s acceleration was partly due to faster growth in transport prices, while higher food and housing prices—especially public housing rents—once again drove the overall increase.
A government spokesperson noted that, “the upside risks to inflation should remain contained in the near term, given the low imported inflation and moderate local cost pressures.”
For the three-month period from May to July, the average of the month-on-month variations in consumer prices was 0.1% in seasonally-adjusted terms, which was a notch lower than the 0.2% average increase seen in the three months up to June. Meanwhile, annual average inflation was once again stable from a month earlier at 1.7%.
Author: Christopher Thomas, Economist