Hong Kong Economic and Trade Office, USA
Hong Kong
News Release



Consumer Price Indices for December 2019

 



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January 21, 2020 - The Census and Statistics Department (C&SD) released today the Consumer Price Index (CPI) figures for December 2019. According to the Composite CPI, overall consumer prices rose by 2.9% in December 2019 over the same month a year earlier, slightly smaller than the corresponding increase (3.0%) in November 2019. The smaller increase in December was mainly due to the smaller increases in local transport fares as well as the costs for meals bought away from home. Netting out the effects of all Government's one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in December 2019 was also 2.9%, remaining virtually unchanged as compared to November 2019.

On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the three-month period ending December 2019 was 0.1%, the same as that for the three-month period ending November 2019. Netting out the effects of all Government’s one-off relief measures, the corresponding rates of increase were both 0.1%.

A Government spokesman said that the underlying consumer price inflation rate held stable at 2.9% in December 2019. While price pressures on most major CPI components stayed modest or moderate, food inflation remained notable amid elevated fresh pork prices. For 2019 as a whole, the underlying consumer price inflation rate averaged 3.0%.

Looking ahead, mild imported inflation and subdued local economic conditions should help contain overall inflationary pressures in the near term. The Government will continue to monitor the inflation situation closely, particularly the impact on the lower-income people.


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