Hong Kong Inflation Rate Slows to 3.0% in March


Consumer prices in Hong Kong rose 3.0 percent year-on-year in March of 2016, following 3.1 percent growth in the previous month. The faster increases in food prices amid bad weather conditions earlier this year receded, while other major CPI components mostly faced benign price pressures. However, due partly to the different timing of the Easter holidays, the charges for package tours reverted to showing growth.

Year-on-year, increases in prices slowed for food (excluding meals bought away from home) (+5.6 percent from +8.8 percent in January);  housing (+3.8 percent from +3.9 percent); transport (+1.0 percent from +1.2 percent) while accelerated for miscellaneous services (+3.7 percent from +1.8 percent), with package tours rose 6.6 percent; miscellaneous goods (+1.1 percent from +0.5 percent) and  electricity, gas and water (+0.5 percent from +0.1 percent). Meals bought away from home (+3.6 percent);  alcoholic drinks and tobacco (+0.2 percent) cost remained unchanged. In contrast, downward pressure came from durable goods (-5.1 percent from -5.1 percent) and clothing and footwear (-3.7 percent from -1.7 percent).

Netting out the effects of all Government's one-off relief measures, prices also rose 2.9 percent, compared to 3.1 percent in the previous month. 

Hong Kong Inflation Rate Slows to 3.0% in March


Census and Statistics Department | Yekaterina Guchshina | yekaterina@tradingeconomics.com
4/21/2016 10:24:54 AM