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.

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Hong Kong Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.20 -2.20 16.00 -6.10 1981 - 2020 percent Monthly
2009/2010=100


Calendar GMT Actual Previous Consensus TEForecast
2020-08-20 08:30 AM Jul -2.3% 0.7% 0.5%
2020-09-21 08:30 AM Aug -0.4% -2.3% 0.4%
2020-10-22 08:30 AM Sep -2.2% -0.4% 0.1%
2020-11-20 08:30 AM Oct -0.2% -2.2% 0.4%
2020-12-21 08:30 AM Nov -0.2% 0.5%
2021-01-21 08:30 AM Dec
2021-02-22 08:30 AM Jan
2021-03-22 08:30 AM Feb


News Stream
Hong Kong Deflation Softens Sharply in October
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.
2020-11-20
Hong Kong Consumer Prices Drop for 3rd Month
Consumer prices in Hong Kong dropped 2.2 percent year-on-year in September 2020, following a 0.4 percent fall in the previous month. It was the third successive decline in consumer prices, mainly due to the waiver of public housing rentals by Hong Kong Housing Authority. Cost of housing fell (-5.3% vs 0.6% in August); and prices of electricity, gas & water decreased further (-19.8% vs -19.3%). Also, prices slowed for miscellaneous goods (1.9% vs 2.9%); and services (0.6% vs 0.7%). On the other hand, cost went down less for transport (-2.1% vs -2.4%); for durable goods (-3% vs -4.2%); and clothing & footwear (-7% vs -7.6%). In addition, cost of food rose at a faster pace (1.6% vs 0.5%), of which meals bought away from home (0.6% vs -1.3%). On a monthly basis, consumer prices went down 1.8 percent.
2020-10-22
Hong Kong Consumer Prices Fall at a Softer Pace in August
Consumer prices in Hong Kong fell 0.4 percent year-on-year in August 2020, following a 2.3 percent drop in the previous month. It was the second consecutive decline in consumer prices, albeit at a softer pace as the effect of the Government's payment of public housing rentals and waiver of two-thirds of rent for tenants of Group B estates by Hong Kong Housing Society in July dissipated in August. Cost of housing rebounded (0.6% vs -4.8% in July); while prices of transport declined less (-2.4% vs -3.7%). Also, cost advanced at a faster pace for miscellaneous goods (2.9% vs 2.3%); and services (0.7% vs 0.6%). In contrast, food prices eased (0.5% vs 0.8%), of which meals bought away from home (-1.3% vs -1.1%); and cost fell further for electricity, gas & water (-19.3% vs -18.6%); durable goods (-4.2% vs -3.2%) and clothing & footwear (-7.6% vs -4.7%). On a monthly basis, consumer prices went up 2 percent.
2020-09-21
Hong Kong Consumer Prices Fall for 1st Time in 3 Years
Consumer prices in Hong Kong dropped 2.3 percent year-on-year in July 2020, following a 0.7 percent rise in the previous month. It was the first decline in consumer prices since February 2017, mainly due to the government's payment of public housing rentals and waiver of two-thirds of rent for tenants of Group B estates by Hong Kong Housing Society. Cost fell for housing (-4.8 percent vs 1.4 percent in June); transport (-3.7 percent vs a flat reading); and electricity, gas & water (-18.6 percent, the same as in June). In addition, prices slowed for food (0.8 percent vs 2.7 percent), of which meals bought away from home (-1.1 percent); miscellaneous goods (2.3 percent vs 2.7 percent); and miscellaneous services (0.6 percent vs 0.8 percent). Meanwhile, prices dropped less for durable goods (-3.2 percent vs -3.5 percent) and clothing & footwear (-4.7 percent vs -5.3 percent). On a monthly basis, consumer prices went down 2.5 percent, after falling 0.1 percent in the prior month.
2020-08-20

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 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.