Hong Kong Inflation Rate Edges Up in July


Hong Kong’s annual inflation rate accelerated to 4 percent in July of 2014 from 3.6 percent in June. It is the highest rate since January, driven by higher utilities cost, as some households had used up the full amount of the Government's one-off electricity charge subsidy.

Year-on-year price increases were recorded in July 2014 for electricity, gas and water (24.8 percent), mainly because some households had used up the full amount of Government’s one-off electricity charge subsidy); alcoholic drinks and tobacco (7.0 percent), mainly due to the increase of tobacco duty; housing (4.6 percent); meals bought away from home (4.4 percent); food (excluding meals bought away from home) (3.5 percent); miscellaneous goods (2.9 percent)); miscellaneous services (2.7 percent); transport (2.3 percent) and clothing and footwear (2.0 percent).  

On the other hand, decrease in prices was recorded for durable goods (-3.1 percent).  

Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the inflation rate in July 2014 was 3.3 percent, slightly smaller than that in June (3.4 percent), mainly due to the smaller increases in private housing rentals as well as the charges for package tours. 

Hong Kong Inflation Rate Edges Up in July


Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
8/21/2014 9:58:16 AM