Hong Kong consumer prices fell 0.2 percent from a year earlier in November 2020, the fifth consecutive month of decline amid subdued economic conditions. Cost was down for electricity, gas and water (-21.6 percent), clothing and footwear (-5.5 percent), durable goods (-2.3 percent), and transport (-1.9 percent). Meantime, prices increased for food excluding meals bought away from home (2.8 percent), alcoholic drinks and tobacco (1.6 percent), miscellaneous goods (1.3 percent), meals bought away from home (1.0 percent), housing (0.5 percent) and miscellaneous services (0.1 percent). Looking ahead, overall inflationary pressures are likely to stay very mild in the near term as global and local economic conditions remain clouded by the threat of COVID-19, a Government spokesman said. source: Census and Statistics Department, Hong Kong
Inflation Rate in Hong Kong averaged 4.21 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 -0.10 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.