Inflation in Hong Kong
Hong Kong - Inflation
Inflation edges down in November
Inflation ticked down to 3.0% in November from 3.1% in October. When accounting for the effects of one-off government relief measures, inflation inched down to 2.9% in November from 3.1% the month prior. The headline print was primarily driven by sharp price decreases for utilities, and clothing and footwear. That said, higher food and transport costs continued to add upward pressures on prices.
For the September-November period, the average of the month-on-month seasonally-adjusted variation in consumer prices was 0.1%, down from the 0.2% rise in the previous three-month period ending in October.
Commenting on the inflation outlook, a government spokesperson noted, “Overall inflation pressures will likely be contained in the near term by mild imported inflation and easing local cost pressures amid sub-par economic conditions.”
FocusEconomics Consensus Forecast panelists expect inflation to average 2.4% in 2020, which is up 0.1 percentage points from the previous month’s forecasts. Moving to 2021, our panel expects inflation to average 2.1%.
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||1.82||3.38 %||Dec 31|
|Exchange Rate||7.79||-0.11 %||Jan 01|
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January 6, 2020
The IHS Markit Purchasing Managers’ Index (PMI) picked up to 42.1 in December (November: 38.5), but remained well below the 50-threhold that indicates an improvement in the private sector economy over the previous month.
January 3, 2020
Retail sales by volume plummeted 25.4% year-on-year in November, slightly less steep than October’s revised 26.4% plummet (previously reported: -26.2% year-on-year).
December 20, 2019
Inflation ticked down to 3.0% in November from 3.1% in October.
December 5, 2019
The revised GDP reading confirmed the economy contracted at the sharpest pace since June 2009 in the third quarter, as Hong Kong faced the double whammy of mass protests battering domestic demand and the U.S.-China trade war hampering the external sector.
Hong Kong: PMI sinks to over 15-year low in November as business activity deteriorates at unprecedented rate
December 4, 2019
The IHS Markit Purchasing Managers’ Index (PMI) slipped to 38.5 in November (October: 39.3), marking the worst reading since April 2003.