Inflation in Hong Kong
Hong Kong - Inflation
Inflation unchanged in July
Inflation was stable at June’s 3.3% in July. When accounting for the effects of one-off government relief measures, inflation in July was also unchanged at June’s 3.2%. The print was primarily driven by higher prices for food and housing.
For the May-July period, the average of the month-on-month variation in consumer prices was 0.3% in seasonally-adjusted terms, down from 0.5% in the three-month period ending in June.
Commenting on the inflation outlook, a government spokesperson noted: “price pressures should remain largely contained in the near term amid the earlier easing in fresh-letting residential rentals, modest global inflation and subdued local economic conditions. Yet, the inflation rate in the next few months will hinge on the supply situation and thus prices of fresh pork.”
FocusEconomics Consensus Forecast panelists expect inflation to average 2.4% in 2019, which is up 0.1 percentage points from last month’s forecast. The panel expects inflation to average 2.3% in 2020.
Hong Kong - Inflation Data
|Inflation Rate (CPI, annual variation in %)||4.3||4.4||3.0||2.4||1.5|
5 years of economic forecasts for more than 30 economic indicators.
Hong Kong Inflation Chart
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.
Hong Kong Facts
|Bond Yield||1.04||3.38 %||Sep 04|
|Exchange Rate||7.84||-0.11 %||Sep 04|
|Stock Market||26,523||-1.92 %||Sep 04|
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September 4, 2019
The IHS Markit Purchasing Managers’ Index (PMI), plunged from 43.8 in July to 40.8 in August, marking the lowest reading since February 2009 amid mass protests and elevated global trade tensions.
August 30, 2019
Retail sales by volume dipped 13.0% year-on-year in July, a notable deterioration from June’s 7.6% contraction.
August 20, 2019
Inflation was stable at June’s 3.3% in July.
August 16, 2019
The economic environment has soured notably as large-scale pro-democracy protests, which were sparked by an extradition bill which has since been shelved, entered their third month in August.
Hong Kong: Economic growth slows for fifth consecutive quarter in Q2; near-term prospects look bleak
August 16, 2019
The economy slowed for the fifth consecutive quarter in the second quarter, with year-on-year growth dipping to 0.5%, a notch down from Q1’s 0.6% expansion.