Hong Kong will announce March CPI inflation on 21 April. Headline inflation is expected to have eased moderately to 4.5% y/y from 4.6% prior.
Food and housing - which together account for almost 60% of the CPI weighting basket - likely stayed high, offsetting the effect of lower oil prices.
Housing prices in particular have been trending higher of late despite further mortgage tightening measures from the Hong Kong Monetary Authority in February.
The underlying CPI measure, which excludes distortions from one-off government concessions, likely also edged lower to 2.7% y/y from 2.85% prior.
"We expect 2015 headline inflation to average an elevated 3.5%, reflecting still-solid domestic demand and minimal spillover from low oil prices.", Said Standard Chartered in a report on Monday.
