The annual inflation rate in Hong Kong rose to 2% in December 2022 after a steady 1.8% in the past two months and slightly above market forecasts of 1.9%. Prices mainly accelerated for food (3.8% vs 3.5% in November), electricity and utilities (14.7% vs 14.3%), transport (2.7% vs 1.6%), miscellaneous goods (0.5% vs 0.4%) and services (1.9% vs 1.6%). For 2022, the composite CPI was 1.9% higher than the previous year's, while the average underlying consumer price inflation stood at 1.7%. On a monthly basis, consumer prices went up by 0.3%, following a 0.1% increase in November. source: Census and Statistics Department, Hong Kong

Inflation Rate in Hong Kong averaged 4.08 percent from 1981 until 2022, 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 February of 2023.

Inflation Rate in Hong Kong is expected to be 2.00 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
2022-12-20 08:30 AM Nov 1.8% 1.8% 1.9% 1.8%
2023-01-20 08:30 AM Dec 2% 1.8% 1.9% 2%
2023-02-23 08:30 AM Jan 2% 2.2%


Related Last Previous Unit Reference
Inflation Rate 2.00 1.80 percent Dec 2022
Consumer Price Index CPI 104.20 104.00 points Dec 2022
GDP Deflator 105.80 101.30 points Sep 2022
Producer Prices 111.50 115.80 points Sep 2022
Export Prices 114.40 114.70 points Nov 2022
Import Prices 115.30 115.90 points Nov 2022
Inflation Rate MoM 0.30 0.10 percent Dec 2022
Food Inflation 3.80 3.50 percent Dec 2022
CPI Transportation 104.90 104.80 points Dec 2022
Producer Prices Change 0.40 0.80 percent Sep 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
2.00 1.80 16.00 -6.10 1981 - 2022 percent Monthly
2019/2020=100

News Stream
Hong Kong Inflation Rate at 2% in December
The annual inflation rate in Hong Kong rose to 2% in December 2022 after a steady 1.8% in the past two months and slightly above market forecasts of 1.9%. Prices mainly accelerated for food (3.8% vs 3.5% in November), electricity and utilities (14.7% vs 14.3%), transport (2.7% vs 1.6%), miscellaneous goods (0.5% vs 0.4%) and services (1.9% vs 1.6%). For 2022, the composite CPI was 1.9% higher than the previous year's, while the average underlying consumer price inflation stood at 1.7%. On a monthly basis, consumer prices went up by 0.3%, following a 0.1% increase in November.
2023-01-20
Hong Kong Inflation Rate Steady at 1.8%
The annual inflation rate in Hong Kong stood at 1.8% in November 2022, the same as in the previous month and slightly below market estimates of 1.9%. Prices mainly accelerated for food (3.5% vs 3.4% in October), electricity and utilities (14.3% vs 13.4%), clothing and footwear (5.2% vs 4.5%), transport (1.6% vs 1.5%) and miscellaneous services (1.6% vs 1.5%). Conversely, prices slowed for alcohol drinks and tobacco (1.7% vs 1.9%) and miscellaneous goods (0.4% vs 1%), while costs declined for housing (-0.1% vs 0.1%) and durable goods (-1.6% vs -0.6%). At the same time, the underlying inflation rate was unchanged at 1.7%. On a monthly basis, consumer prices grew by 0.1%, easing from a 0.3% gain in October.
2022-12-20
Hong Kong Inflation Rate Sharply Eases from 7-Year High
The annual inflation rate in Hong Kong sharply eased to 1.8 percent in October 2022 from a 7-year high of 4.4 percent in the previous month and below market forecasts of a 2 percent rise, mainly due to a slowdown in housing inflation (0.1 percent vs 6.4 percent in September). Additionally, cost slowed for food (3.4 percent vs 3.8 percent), utilities (13.4 percent vs 14.5 percent) and transport (1.5 percent vs 2.1 percent). Conversely, prices rose faster for clothing and footwear (4.5 percent vs 3 percent), miscellaneous goods (1.0 percent vs 0.4 percent) and services (1.5 percent vs 1.4 percent). Meanwhile, the underlying inflation rate edged down to 1.7 percent from 1.8 percent in September. Although intensive external price pressures are expected in some major import sources, the government noted that the overall inflation rate should remain moderate in the near term amid largely mild domestic cost pressures.
2022-11-21