Hong Kong Inflation July 2017

Hong Kong

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%.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.8% in 2017, which is unchanged from last month’s forecast. For 2018, the panel expects inflation to average 2.4%.

Author:, Economist

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Hong Kong Inflation Chart

HongKong Inflation July 2017 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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