Hong Kong Inflation Rate at Nearly 3-Year Low in April

Hong Kong annual inflation rate fell to 2.8 percent in April of 2015 from 4.5 percent in the previous month, mainly affected by the Government's relief measure of rates concession for April to September 2015. It was the lowest since July of 2012.
Census and Statistics Department | Joana Ferreira | joana.ferreira@tradingeconomics.com 5/21/2015 10:04:16 AM
Year-on-year, the biggest price decreases were reported for: durable goods (-5.3 percent); clothing and footwear (-2.0 percent); and transport cost (-0.9 percent).

In contrast, upward pressures came from: electricity, gas and water (+21.6 percent); housing (+4.2 percent); food (+3.2 percent); miscellaneous services (+1.5 percent); miscellaneous goods (+1.4 percent).

Alcoholic drinks and tobacco CPI remained at the same level as April last year.

Netting out the effects of all Government's one-off relief measures, the inflation rate was 2.4 percent, from a 2.8 percent increase in the previous two months, mainly due to the smaller price increase of basic foodstuffs.

On a monthly basis, the composite consumer price index decreased by 1.0 percent, from a 0.3 percent decline in the previous month.

A Government spokesman commented that, looking ahead, given the benign global inflation, lower international energy and food prices as well as modest growth pace of the economy, inflation should remain contained in the near term.

Hong Kong Inflation Rate at Nearly 3-Year Low in April