Hong Kong Inflation Rate Slows to 8-Month Low of 2.3%


Consumer prices in Hong Kong increased 2.3 percent year-on-year in July of 2016, easing from a 2.4 percent rise in June. It was the fifth consecutive month of decrease in inflation rate as cost of private housing rentals increased at a slower pace and prices of women’s clothing dropped more. Netting out the effects of all Government's one-off relief measures, including payment and subsidies of public housing rentals and electricity charge subsidy, the inflation was 2 percent, also slightly lower than 2.1 percent in June.

Year-on-year, prices increased at a slower pace for housing (4.2 percent compared to 4.4 percent in June); alcoholic drinks and tobacco (2.0 percent compared to 2.5 percent in June) and transport (0.6 percent compared to 1.3 percent). Inflation was steady for meals bought away from home (3.3 percent, the same as in June) and accelerated for miscellaneous services (2.8 percent compared to 2.6 percent in June); miscellaneous goods (2.0 percent compared to 1.5 percent in June) and food excluding meals bought away from home (1.9 percent compared to 1.8 percent in June). In contrast, prices fell for durable goods (-5.3 percent compared to -4.8 percent in June); clothing and footwear (-4.8 percent compared to -3.3 percent in June) and well as electricity, gas and water (-1.5 percent compared to -2.2 percent). 

Considering the first seven months of 2016, the CPI rose by 2.7 percent over a year earlier but netting out the effects of all Government's one-off relief measures, it went up at a slower 2.5 percent.

Hong Kong Inflation Rate Slows to 8-Month Low of 2.3%


Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
8/22/2016 9:58:23 AM