The annual inflation rate in Hong Kong accelerated to 2.1% in April 2023, after steadying at 1.7% in the previous two months and was almost in line with market forecasts of 2%. Main upward pressures came from food (2.6% vs 1.6% in March), housing (0.5% vs -0.2%) and clothing & footwear (6.4% vs 6.3%). On the other hand, prices notably slowed for transport (2.2% vs 2.8%) and electricity & utilities (17.8% vs 19.9%). Meanwhile, the underlying inflation rate increased 1.8% year-on-year, slightly up from 1.7% in March. On a monthly basis, consumer prices rose 0.2%, the same pace as in the prior period. source: Census and Statistics Department, Hong Kong

Inflation Rate in Hong Kong averaged 4.06 percent from 1981 until 2023, reaching an all time high of 16.00 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 June of 2023.

Inflation Rate in Hong Kong is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong Inflation Rate is projected to trend around 2.20 percent in 2024 and 2.10 percent in 2025, according to our econometric models.

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Hong Kong Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-04-21 08:30 AM Mar 1.7% 1.7% 1.8% 1.8%
2023-05-22 08:30 AM Apr 2.1% 1.7% 2% 1.5%
2023-06-20 08:30 AM May 2.1%


Related Last Previous Unit Reference
Inflation Rate 2.10 1.70 percent Apr 2023
Consumer Price Index CPI 105.20 105.00 points Apr 2023
GDP Deflator 102.70 103.30 points Mar 2023
Producer Prices 110.80 111.50 points Dec 2022
Export Prices 111.00 110.40 points Mar 2023
Import Prices 110.20 109.50 points Mar 2023
Inflation Rate MoM 0.20 0.20 percent Apr 2023
Food Inflation 2.60 1.60 percent Apr 2023
CPI Transportation 106.40 106.10 points Apr 2023
Producer Prices Change -0.30 0.40 percent Dec 2022

Hong Kong Inflation Rate
In Hong Kong, the composite consumer price index is based on a monthly survey conducted throughout the territory. The indicator consists of 980 consumer goods and services classified into 9 major groups. Housing accounts for 40.3 percent of total weight, Food for 27.4 percent and Miscellaneous Services such as education, communications, information and medical care for 13.1 percent. Transport constitutes 6.2 percent of total index; Durable Goods for 4 percent; Miscellaneous Goods for 3.3 percent and Clothing and Footwear for 2.4 percent. Electricity, Gas and Water account for 2.8 percent and Alcoholic Drinks and Tobacco for the remaining 0.5 percent.
Actual Previous Highest Lowest Dates Unit Frequency
2.10 1.70 16.00 -6.10 1981 - 2023 percent Monthly
2019/2020=100

News Stream
Hong Kong Inflation Rate Accelerates in April
The annual inflation rate in Hong Kong accelerated to 2.1% in April 2023, after steadying at 1.7% in the previous two months and was almost in line with market forecasts of 2%. Main upward pressures came from food (2.6% vs 1.6% in March), housing (0.5% vs -0.2%) and clothing & footwear (6.4% vs 6.3%). On the other hand, prices notably slowed for transport (2.2% vs 2.8%) and electricity & utilities (17.8% vs 19.9%). Meanwhile, the underlying inflation rate increased 1.8% year-on-year, slightly up from 1.7% in March. On a monthly basis, consumer prices rose 0.2%, the same pace as in the prior period.
2023-05-22
Hong Kong Inflation Rate Remains at 1.7%
The annual inflation rate in Hong Kong was unchanged at 1.7% in March 2023, remaining at its lowest level since May 2022 and slightly less than market expectations of 1.8%. Prices rose at a slower pace for food (1.6% vs 2.4% in February) and electricity & utilities (19.9% vs 20.7%), while costs declined further for housing (-0.2% vs -0.1%) and durable goods (-2.8% vs -2.1%). At the same time, the underlying inflation rate also stood at 1.7%. On a monthly basis, consumer prices increased 0.2%, after showing no growth in the previous month.
2023-04-21
Hong Kong Inflation Rate at 9-Month Low
The annual inflation rate in Hong Kong increased to 1.7% in February 2023, easing from a 2.4% rise in the previous month. It was the lowest increase in consumer prices since May 2022, as prices increased at a slower pace for food (2.4% vs 5% in January), clothing & footwear (5.5% vs 5.8%), and miscellaneous goods (0.7% vs 1%) while services increased faster (0.9% vs 0.2%). Meanwhile, the underlying inflation rate was also at 1.7%, 0.7 percentage points lower compared to January. On a monthly basis, consumer prices showed no growth, following a 0.6% increase in the previous month.
2023-03-23