Inflation in Hong Kong

Hong Kong Inflation | Economic News & Forecasts

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

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)4.3  4.4  3.0  2.4  1.5  

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Hong Kong Inflation Chart

Hong Kong Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.

Hong Kong Facts

Bond Yield1.633.38 %May 10
Exchange Rate7.85-0.11 %May 13
Stock Market28,550-1.92 %May 10

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