Inflation in Hong Kong
Hong Kong - Inflation
Inflation falls to lowest level since March 2017 in June
Consumer prices were unchanged in June over the last month, matching the flat result seen in May. Looking at the details of the release, prices for housing increased at a softer rate in June, while price pressures for transportation dropped at a faster pace. Conversely, utilities prices rose in the month.
Inflation came in at 0.7% in June, which was down from May’s 1.5% print. June's reading represented the weakest inflation rate since March 2017. Annual average inflation fell to 2.4% in June (May: 2.6%).
FocusEconomics Consensus Forecast panelists expect inflation to average 1.4% in 2020, which is down 0.1 percentage points from the previous month’s forecasts. In 2021, our panel expects inflation to average 1.9%.
Hong Kong - Inflation Data
|Inflation Rate (CPI, annual variation in %)||3.0||2.4||1.5||2.4||2.9|
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||1.82||3.38 %||Dec 31|
|Exchange Rate||7.79||-0.11 %||Jan 01|
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August 5, 2020
The IHS Markit Hong Kong SAR Purchasing Managers’ Index (PMI) fell to 44.5 in July, after rising to 49.6 in June from 43.9 in May.
July 30, 2020
Retail sales fell 25.4% compared to the same month a year earlier in June, which was markedly softer than May's 34.0% decrease.
July 29, 2020
The economy contracted 9.0% in year-on-year seasonally-adjusted (yoysa) terms in the second quarter, resulting in the second fastest contraction since current records began—only marginally slower than Q1’s 9.1% decline—according to advance estimates.
July 21, 2020
Consumer prices were unchanged in June over the last month, matching the flat result seen in May.
July 1, 2020
On 30 June, the new security law for Hong Kong came into force, which will increase Beijing’s hold over the territory.