Inflation in Hong Kong

Hong Kong Inflation | Economic News & Forecasts

Hong Kong - Inflation

Inflation comes in at highest level since December 2021 in June

Consumer prices rose a seasonally-adjusted 0.10% over the previous month in June, matching May's reading.

Inflation increased to 1.9% in June, above May’s 1.3% and likely aided by a recovery in domestic demand as Covid-19 restrictions were eased. June's reading marked the highest inflation rate since December 2021. Annual average inflation edged up to 1.8% in June (May: 1.7%). June’s inflation reading was extremely low in the international context. The country’s U.S. dollar peg, which has seen the trade-weighted exchange rate rise this year on a stronger USD, is one factor at play. Government subsidies, and lower rent prices amid emigration, are also weighing on price pressures.

FocusEconomics Consensus Forecast panelists forecast inflation to average 2.2% in 2022, which is down 0.2 percentage points from the previous month’s forecast. In 2023, our panel expects inflation to average 2.2%.

Hong Kong - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)3.0  2.4  1.5  2.4  2.9  

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Hong Kong Inflation Chart


Hong Kong Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.

Hong Kong Facts

Value Change Date
Bond Yield1.823.38 %Dec 31
Exchange Rate7.79-0.11 %Jan 01

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