Producer Prices in Hong Kong
Hong Kong - Producer Prices
Inflation jumps to over five-year high in September
Inflation increased to 4.3% in September, following August’s 1.9%. September's result was the highest inflation rate since August 2016. However, inflation is still low in the international context. The country’s U.S. dollar peg, which has seen the trade-weighted exchange rate rise this year on a stronger USD, is one factor at play. Government subsidies, and lower rent prices amid emigration, are also weighing on price pressures.
Annual average inflation rose to 1.9% in September (August: 1.7%).
Finally, consumer prices increased a seasonally adjusted 0.10% in September over the previous month, mirroring August's reading. September's result marked the weakest reading since May.
FocusEconomics Consensus Forecast panelists forecast inflation to average 2.2% in 2023, which is unchanged from the previous month’s forecast. In 2024, our panel expects inflation to average 2.1%.
Hong Kong - Producer Prices Data
|Inflation (PPI, annual variation in %)||-2.8||1.3||3.8||2.0||1.0|
5 years of economic forecasts for more than 30 economic indicators.
Hong Kong Facts
|Bond Yield||1.82||3.38 %||Dec 31|
|Exchange Rate||7.79||-0.11 %||Jan 01|
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November 11, 2022
GDP dropped at a sharper pace of 4.5% year on year in the third quarter, below the 1.3% contraction logged in the second quarter and far below market expectations.
November 3, 2022
The S&P Global Purchasing Managers’ Index (PMI) came in at 49.3 in October, up from September's 48.0.
November 1, 2022
Retail sales decreased 1.5% compared to the same month of the previous year in September, which was a less pronounced drop than August's 3.0% decrease.
October 21, 2022
Inflation increased to 4.3% in September, following August’s 1.9%.
October 6, 2022
The S&P Global Purchasing Managers’ Index (PMI) fell to 48.0 in September from August's 51.2.