Consumer prices in Hong Kong rose 1.7 percent in October of 2021, quickening from a 1.4 percent increase in the previous month, slightly missing market expectations of 1.8 percent. The latest reading was mainly attributed to the lowering of the ceiling of rates of concession, from HK$1,500 per quarter for each rateable tenement to HK$1,000. Netting out the effects of all Government's one-off relief measures, the inflation rate was 1.1 percent, faster than 1.0 percent in September. Main upward pressure came from utilities (28.1 percent); clothing and footwear (6.1 percent); transport (5.7 percent); meals bought away from home (2.5 percent); durable goods (2.0 percent); basic food (1.8 percent); and miscellaneous services (0.9 percent). Looking ahead, inflationary pressures might build up due to rising import prices alongside the economic recovery, while core inflation should remain largely in check, a government spokesman said. source: Census and Statistics Department, Hong Kong
Inflation Rate in Hong Kong averaged 4.14 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 November of 2021.
Inflation Rate in Hong Kong is expected to be 2.50 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 1.50 percent in 2022, according to our econometric models.