Hong Kong Inflation Rate

The inflation rate in Hong Kong was recorded at 3.90 percent in March of 2014. Inflation Rate in Hong Kong is reported by the Census and Statistics Department, Hong Kong. Inflation Rate in Hong Kong averaged 4.58 Percent from 1981 until 2014, reaching an all time high of 16 Percent in October of 1981 and a record low of -6.10 Percent in August of 1999. 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 31.6 percent of total weight, Food for 27.5 percent and Miscellaneous Services such as education, communications, information and medical care for 15.9 percent. Transport constitutes 8.5 percent of total index; Durable Goods for 5.2 percent; Miscellaneous Goods for 4.2 percent and Clothing and Footwear for 3.4 percent. Electricity, Gas and Water account for 3.1 percent and Alcoholic Drinks and Tobacco for the remaining 0.6 percent. This page provides - Hong Kong Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3.90 3.90 16.00 -6.10 4.57 | 2014/04 1981 - 2014 Percent Monthly
2009/2010=100

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Hong Kong Inflation Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-21 08:30 AM Hong Kong
Inflation Rate YoY
Dec 2013 4.3% 4.3% 4.3% 4.12%
2014-02-21 08:30 AM Hong Kong
Inflation Rate YoY
Jan 2014 4.6% 4.3% 4.5% 4.9%
2014-03-20 08:30 AM Hong Kong
Inflation Rate YoY
Feb 2014 3.9% 4.6% 3.74%
2014-04-22 09:30 AM Hong Kong
Inflation Rate YoY
Mar 2014 3.9% 3.9% 4.45%
2014-05-22 09:30 AM Hong Kong
Inflation Rate YoY
Apr 2014 3.9% 4.57%
2014-06-23 09:30 AM Hong Kong
Inflation Rate YoY
May 2014 4.53%
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Prices Last Previous Highest Lowest Forecast Unit
Inflation Rate 3.90 2014-03-31 3.90 16.00 -6.10 4.57 2014-04-30 Percent [+]
Consumer Price Index (CPI) 118.80 2014-02-15 118.30 118.80 26.30 119.54 2014-03-31 Index Points [+]
Export Prices 113.50 2014-01-15 114.50 115.20 61.70 113.57 2014-02-28 Index Points [+]
GDP Deflator 107.30 2013-11-15 106.70 122.80 16.60 106.89 2014-03-31 Index Points [+]
Import Prices 113.60 2014-01-15 113.80 114.70 59.30 113.77 2014-02-28 Index Points [+]
Producer Prices 107.10 2013-11-15 106.80 114.50 84.70 104.20 2014-03-31 Index Points [+]
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Hong Kong Inflation Rate Unchanged in March

Hong Kong annual consumer prices rose 3.9 percent in March of 2014, the same rate recorded in February. In the first quarter of 2014, the inflation rate rose by 4.2 percent over a year earlier. The corresponding increase after netting out the effects of all Government's one-off relief measures was 3.8 percent.

Year-on-year, increases in prices were recorded in March for alcoholic drinks and tobacco (7.2 percent, mainly due to the increase of tobacco duty); housing (5.4 percent); electricity, gas and water (4.8 percent); food (excluding meals bought away from home) (4.8 percent); meals bought away from home (4.4 percent); miscellaneous goods (3.3 percent); miscellaneous services (2.8 percent); clothing and footwear (2.5 percent) and transport (1.5 percent).

On the other hand, year-on-year decrease in prices was recorded for durable goods (-3.0 percent).

A Government spokesman said that inflationary pressures eased slightly in recent months.  The underlying inflation in the first quarter of this year, averaging 3.8 percent, was lower than that of 4.0 percent in the fourth quarter of last year.  Of particular note was the slower private rental increase in the housing component.  Nevertheless, the lower underlying inflation rate in March compared with the average rate in January and February was due partly to the year-on-year decline in the costs of package tours, which resulted from a high base of comparison as the Easter holidays fell in late March last year but in mid-April this year.

The spokesman commented further that, looking ahead, the continued feed-through of the milder increases in fresh-letting residential rentals since early 2013 as well as the modest imported inflation should help contain inflation in the near term.

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
4/22/2014 9:54:40 AM

RECENT RELEASES

Hong Kong Inflation Rate Slows to 9-Month Low
In February of 2014, Hong Kong’s inflation rate eased to 3.9 percent, down from 4.6 percent in the previous month. The smaller increase was mainly due to the difference in the timing of the Lunar New Year, which fell in late January and early February this year but in mid-February last year, resulting in smaller increase in prices for package tours and meals bought away from home. Cost of private housing rentals also slowed. Published on 2014-03-20

Hong Kong Inflation Rate Accelerates in January
In January of 2014, Hong Kong’s annual inflation rate rose 4.6 percent, the highest rate in the last four months, due mainly to the difference in timing of the Lunar New Year, which fell in late January and early February this year, but in mid-February last year. Published on 2014-02-21


Inflation Rate | Notes
The data given on this page shows an annual change in the Consumer Price Index. The CPI measures changes in the price level of consumer goods and services purchased by households. The CPI is calculated by taking price changes for each item in the predetermined basket of goods and services and averaging them. The items weight according to their importance. Depending on the country, the highest weights are usually given to the food, energy, housing, clothing, medical care, transportation and household equipment.


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