Hong Kong consumer prices fell 0.7 percent from a year earlier in December of 2020, marking the sixth straight month of deflation amid subdued demand conditions. Downward pressure came from prices of electricity, gas and water (-30 percent); clothing and footwear (-5.9 percent); durable goods (-2.6 percent); transport (-2.1 percent) and miscellaneous services (-0.1 percent). On the other hand, prices increased for food, excluding meals bought away from home (2.2 percent), alcoholic drinks and tobacco (1.7 percent), miscellaneous goods (1.4 percent) and housing (0.3 percent). Meantime, cost was flat for meals bought away from home. Looking ahead, overall price pressures should remain very mild in the near term as global and local economic conditions are still challenging amid the continued threat of COVID-19, a Government spokesman said. source: Census and Statistics Department, Hong Kong
Inflation Rate in Hong Kong averaged 4.20 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 February of 2021.
Inflation Rate in Hong Kong is expected to be -0.30 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 2.40 percent in 2022, according to our econometric models.