The annual inflation rate in Hong Kong inched up to 0.5 percent in March of 2021 from 0.3 percent in February. Still, the year-on-year rise in the CPI is due to a low base of comparison arising from the government's payment of public housing rentals and waiver of two-thirds of rent. Netting out the effects of all Government's one-off relief measures, the year-on-year change was 0.2 percent, compared to the average -0.1 percent in February. Price increases in March were seen for electricity, gas and water (21.2 percent); food, excluding meals bought away from home, (3.1 percent); meals bought away from home (0.7 percent); and alcoholic drinks and tobacco (0.5 percent). On the other hand, decreases were recorded for transport (-2.3 percent); durable goods (-1.2 percent); miscellaneous goods (-0.7 percent); and housing (-0.5 percent). Looking ahead, inflationary pressures should stay mild, given global and local economic conditions have yet to fully recover from the pandemic. source: Census and Statistics Department, Hong Kong
Inflation Rate in Hong Kong averaged 4.18 percent from 1981 until 2021, reaching an all time high of 16 percent in October of 1981 and a record low of -6.10 percent in August of 1999. This page provides the latest reported value for - Hong Kong Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hong Kong Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Inflation Rate in Hong Kong is expected to be 1.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Hong Kong to stand at 1.80 in 12 months time. In the long-term, the Hong Kong Inflation Rate is projected to trend around 1.50 percent in 2022, according to our econometric models.