Consumer prices in Hong Kong fell 0.2 percent year-on-year in October of 2020, the smallest decrease in four months, as the effect of the waiver of public housing rentals by Hong Kong Housing Authority in September dissipated in October. Main declines were recorded for electricity, gas and water (-21.4 percent); clothing and footwear (-5.5 percent); durable goods (-2.7 percent) and transport (-1.8 percent) while rises were seen in cost of food (3.2 percent), miscellaneous goods (1.5 percent), meals bought away from home (0.9 percent), housing (0.5 percent), alcoholic drinks and tobacco (0.5 percent) as well as miscellaneous services (0.1 percent). " Looking ahead, overall inflationary pressures should stay tame in the near term as the evolving COVID-19 pandemic still weighs on the global and local economic conditions", a Government spokesman said. source: Census and Statistics Department, Hong Kong
Inflation Rate in Hong Kong averaged 4.22 percent from 1981 until 2020, 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 December of 2020.
Inflation Rate in Hong Kong is expected to be 0.50 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 2.50 in 12 months time. In the long-term, the Hong Kong Inflation Rate is projected to trend around 2.50 percent in 2021 and 2.40 percent in 2022, according to our econometric models.