, Hong Kong

Hong Kong inflation grows by 2.4% in December

This is significantly larger than the 1.8% growth in November.

Overall consumer prices in Hong Kong rose 2.4% year-on-year (YoY) in December 2021, larger than the 1.8% growth in November, according to the Census & Statistics Department.

Netting out the effects of the government’s one-off relief measures, December’s underlying inflation rate went up 1.4% compared to a year earlier, also larger than the 1.2% recorded in November.

Price increases were seen in electricity, gas and water, clothing and footwear, transport, meals out and takeaway food, durable goods, basic food, miscellaneous services and alcoholic drinks, and tobacco.

On the other hand, YoY decreases in miscellaneous goods and housing were recorded.

The government said that it noted that the rising underlying inflation rate was mainly due to the enlarged increases in costs for meals out and takeaway food as well as electricity charges.

In the fourth quarter of 2021, the underlying inflation rate rose 2% over a year earlier. For 2021 as a whole, the underlying inflation rate was 1.6% higher than the preceding year.

The government also said that external price pressures may increase further amidst elevated global inflation and the pandemic-induced logistics disruptions.

However, as the latest wave of the local epidemic has weighed on some consumption-related activities and domestic cost pressures remain limited, the underlying inflation should stay broadly in check in the near term.

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Unemployment rate rises to 5.4% from February to April
The total number of unemployed people stands at 206,100.   The unemployment rate rose by 0.4 percentage points to 5.4%  from February to April, when compared to the January to March period.    Based on the data from the Census & Statistics Department (C&SD), the total number of unemployed people from February to April was 206,100, an increase of 17,600 from the preceding three-month period.   Meanwhile, the number of unemployed rose by around 25,000 to 142,000, translating to a rate of 3.8%.   With the increase in the number of jobless and underemployed individuals, total employment dropped to 3,559,200, whilst the labour force fell to 3,765,300.   The deterioration of Hong Kong’s labour market however should see an improvement in the coming months, according to Secretary for Labour & Welfare, Dr Law Chi-kwong.   The receding local epidemic situation and progressive relaxation of social distancing measures, the new round of Consumption Voucher Scheme, and Other relief measures including the 2022 Employment Support Scheme should help drive improvement in the employment sentiment, said the C&SD.