Inflation in Hong Kong
Hong Kong - Inflation
Inflation stabilizes in March
Inflation was stable at February’s 2.1% in March. When accounting for the effects of one-off government relief measures, inflation came in at 2.6%, also unchanged compared to February.
However, averaging the January and February prints—in order to better capture the calendar effects of the Lunar New Year holiday which fell earlier this year than in 2018—shows that inflation somewhat softened in March from the 2.3% average logged in the first two months of the year. This mostly reflected a softer year-on-year increase in the prices of package tours and a larger decline in information and communication service prices. Meanwhile, annual average inflation ticked down from 2.4% in February to 2.3% in March.
For the January–March period, the average of the month-on-month variation in consumer prices was 0.2% in seasonally-adjusted terms, unchanged from the three-month period from December to February.
Regarding the inflation outlook, a government spokesperson noted that:
“Looking ahead, inflation will likely stay moderate in the near term. The consolidation of fresh-letting residential rentals earlier on should continue to have a mitigating effect in the period ahead. External price pressures have also shown some easing recently”.
FocusEconomics Consensus Forecast panelists expect inflation to average 2.2% in 2019, which is unchanged from last month’s forecast. The panel expects inflation to average 2.2% again 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||1.63||3.38 %||May 10|
|Exchange Rate||7.85||-0.11 %||May 13|
|Stock Market||28,550||-1.92 %||May 10|
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May 6, 2019
The Nikkei Hong Kong Purchasing Managers’ Index (PMI), released by IHS Markit, rose to 48.4 in April from 48.0 in March.
May 3, 2019
Retail sales by volume fell 0.8% year-on-year in March, up from the 1.9% decline registered in the Lunar New Year period of January-February.
April 23, 2019
Inflation was stable at February’s 2.1% in March.
April 3, 2019
The Nikkei Hong Kong Purchasing Managers’ Index (PMI), released by IHS Markit, declined from 48.4 in February to 48.0 in March.
April 1, 2019
Retail sales by volume fell 10.4% in annual terms in February, markedly contrasting January’s 6.9% growth.