Though Hong Kong inflation rate (GDP deflator) fluctuated substantially in recent years, it tended to decrease through 1970 - 2019 period ending at 2.4 % in 2019. Hong Kong’s economy contracted by 3.0% year-on-year in real terms in the fourth quarter of 2020, after a fall of 3.6% (year-on-year) in the preceding quarter. Canada Canada historical. Having regard to the stimulus effect of the fiscal measures, I forecast our economy will grow by -1.5 per cent to 0.5 per cent in real terms in 2020. This would result in inflation falling further below the Fed’s 2% target, but not into negative territory. Also, the GDP per capita rose by 87 times within the same time frame. The CPI inflation rates in the table are presented both on a monthly basis (compared to the month before) as well as on a yearly basis (compared to the same month the year before). Inflation measures the general evolution of prices. Prices still move up as they historically do, but do so at a lower rate. Inflation measured by consumer price index (CPI) is defined as the change in the prices of a basket of goods and services that are typically purchased by specific groups of households. In 2019, inflation rate (GDP deflator) for Hong Kong was 2.4 %. I think the actual rate of increase in 2020 will be lower than the 4 percent forecast, and it may be similar to what we saw in 2019, which was around 1 percent . This inflation calculator calculates a country's inflation rate within two different years. Unemployment Rate for Hong Kong from Census and Statistics Department Hong Kong Special Administrative Region (HKSARG) for the Employment Situation - Monthly release. The year-on-year rate of change in this index is generally taken to reflect overall consumer price inflation. Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The CPI inflation rates in the table are presented both on a monthly basis (compared to the month before) as well as on a yearly basis (compared to the same month the year before). Hong Kong - 香港 ; Italy ... 2020 ; Macroeconomics ... as consumers delay purchases in anticipation of prices falling further. ... All suggestions for corrections of any errors about Hong Kong Economy 2020 should be addressed to the CIA or the source cited on each page. The average monthly household expenditures (in HK$) of these groups in the base period (i.e. January 29, 2021. Inflation Greece 2020 (CPI) - The inflation chart and table below feature an overview of the Greek inflation in 2020: CPI Greece 2020. Switzerland-0.5%. Explore inflation rates. Australia Australia historical. The global economic hub faced a dual hit to wages in 2020 amid the pandemic and ongoing socio-political tensions. The Consumer Price Index in Hong Kong decreased 0.30 percent in December of 2020 over the previous month. jan 2021. The Internal Revenue Service published the annual inflation adjustment factor used to calculate the value of production tax credits (“PTCs”) generated in 2020 on May 13, 2020. Hong Kong, meanwhile, is something of an outlier in the region. This statistic shows the underlying consumer price inflation rate in Hong Kong from 2011 to 2019. The inflation rate for consumer prices in Hong Kong moved over the past 37 years between -4.0% and 11.2%. April 23, 2020. Inflation measures the erosion of living standards. Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 2.6%, smaller than the average rate of increase in January and February. Definition of Inflation rate (consumer prices): This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices. For 2019, an inflation rate of 2.9% was calculated. 2.4% (2016 est.) There is a one-cent per kilowatt-hour (“kWh”) increase for certain facilities as described below, but the rate for wind, closed-loop biomass and geothermal facilities remained unchanged from 2019. Its GDP per capita at purchasing power parity was the tenth highest globally in 2020. Read more. January 4, 2021 The indicator is expressed in annual growth rates. In 2009, Hong Kong's real economic growth fell by 2.8% as a result of the global financial turmoil. feb 2021. Hong Kong: Decline in retail sales softens to 18-month low in November. Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of December 1, 2020 jan 2021. The Laspeyres formula is generally used. On August 27, 2020, the FOMC announced it will allow a target inflation rate of more than 2% if that will help ensure maximum employment. jan 2021. Canada inflation rate for 2019 was 1.95%, a 0.32% decline from 2018. It still seeks a 2% inflation over time but is willing to allow higher rates if inflation has been low for a while. dec 2020. To sum up, Hong Kong’s economy is facing enormous challenges this year. The inflation rate is based upon the consumer price index (CPI). This page provides forecast and historical data, charts, statistics, news and updates for Hong Kong Unemployment Rate. GDP contracted at a milder rate of 3.0% year-on-year in the fourth quarter, after falling 3.6% in the third quarter. 19. Hong Kong's gross domestic product has grown 180 times between 1961 and 1997. Inflation is measured in terms of the annual growth rate and in index, 2015 base year with a breakdown for food, energy and total excluding food and energy. The CPI(A), CPI(B) and CPI(C) respectively cover some 50%, 30% and 10% of households in Hong Kong. This statistic shows the average inflation rate in Taiwan from 1985 to 2019, with projections up until 2025. The Laspeyres formula is generally used. Inflation rate (consumer prices): 1.5% (2017 est.) Many factors affect inflation so it is important to understand how much your money is really worth! RI provides current and historical inflation rate data for various countries around the world. Figures and forecasts are as of ADB's Asian Development Outlook Update (ADOU) 2020, released in September 2020. Overall, the price increase was 364.38 %. Hong Kong’s inflation rate averaged 3.3% from 2010 to 2019. It is defined as the change in the prices of a basket of goods and services that are typically purchased by households. Inflation in Hong Kong went up to 3.0 percent in 2019 from 2.6 percent in 2018. Unemployment is rising rapidly. The inflation rate is based upon the consumer price index (CPI). Singapore +0.2%. UK +0.7%. The year-on-year rate of change in the CPI is widely used as an indicator of the inflation affecting consumers. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. Note: The newly industrialized economies are Hong Kong, China, the Republic of Korea, Singapore, and Taipei,China. The outlook is far from promising in the near term. jan 2021. Hong Kong’s economic freedom score is 89.1, making its economy the 2nd freest in the 2020 Index. Inflation Italy 2020 (CPI) - The inflation chart and table below feature an overview of the Italian inflation in 2020: CPI Italy 2020. https://www.news.gov.hk/eng/2020/01/20200121/20200121_163824_774.html For 2020 as a whole, GDP decreased by 6.1% in real terms from 2019. Projections are based on an assessment of the economic climate in individual countries and the world economy, using a combination of model-based analyses and expert judgement. Looking ahead, the 2020 outlook is still subject to uncertainties, including the pace of global economic recovery, US-China trade relations, social incidents, and the effect of the coronavirus outbreak in Hong Kong and elsewhere in Asia. The UK's inflation rate, which tracks the prices of goods and services, increases to 0.7% in October. Hong-Kong 1.90 2021-01 -0.3: 1.5: 2.5: 2.5: Hongrie 2.70 ... 2020-12 120: 75: 44: 25: Lesotho 5.70 ... Prévisions - Taux d'inflation - Les prévisions pour les indicateurs économiques, y compris prévisions à long terme et à court terme. Hong Kong: Economy continues to recover in Q4. 18. 0,3 (%) en 2020 Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. Overall consumer prices rose 2.3% year-on-year in March, compared to the 1.8% average rate of increase in January and February, the Census & Statistics Department announced today. feb 2021. Disinflation, however, is a decline in the rate of inflation. Lee Quane, regional director of Asia at consulting firm ECA International. During the observation period from 1982 to 2019, the average inflation rate was 4.3% per year. For Hong Kong SAR, the Consumer Price Index (CPI) measures the changes over time in the price level of consumer goods and services generally purchased by households. In Q4 2020, the seasonally-adjusted unemployment rate surged to 6.6%, up from 6.3% in the previous quarter and 3.3% in Q4 2019, according to Census and Statistics Department, as a new wave of COVID-19 cases halted a wide range of economic activities. Inflation Rate in Asia and the Pacific, Asian Development Outlook (ADO) Economics . Philippines +3.5%. Inflation Rates and CPI. Inflation Rate Mom in Hong Kong averaged 0.34 percent from 1980 until 2020, reaching an all time high of 3.10 percent in September of 2014 and a record low of -2.50 percent in July of 2020. Hong Kong - Inflation de l'IPC. Inflation Calculator. The Government announced today (October 5) the launch of the 2020 inflation-linked retail bond, or iBond, under the retail part of the Government Bond Programme for subscription by Hong Kong residents. Russia +5.2%. USA +1.4%. Still move up as they historically do, but not into negative territory its economy 2nd. 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