Hong Kong Inflation Rate at 7-Month High


Consumer prices in Hong Kong rose 2.7 percent year-on-year in January of 2016, compared to 2.5 percent growth in the previous month. It was the highest value since June of 2015, due to faster increases in food prices amid exceptionally cold weather during the month, and partly due to the difference in timing of the Lunar New Year, which fell on February 8 this year, but on February 19 last year. Indeed, the price pressures of many major CPI components remained benign.

Year-on-year, increases in prices were reported for food (excluding meals bought away from home) (+4.8 percent from +4.4 percent in December); meals bought away from home (+4.1 percent from +4.0 percent); housing (+3.8 percent from +3.9 percent); miscellaneous services(+1.8 percent from +0.3 percent); alcoholic drinks and tobacco (0.7 percent); transport (+1.2 percent from +0.3 percent) and miscellaneous goods (+0.4 percent from +0.8 percent). In contrast, downward pressure came from durable goods (-5.3 percent from -5.3 percent) and clothing and footwear (-2.5 percent from -1.1 percent).

Netting out the effects of all Government's one-off relief measures, prices rose increased 2.6 percent.

Hong Kong Inflation Rate at 7-Month High


Census and Statistics Department | Yekaterina Guchshina | yekaterina@tradingeconomics.com
2/23/2016 9:32:42 AM