Latest reading: Inflation fell to 19.8% in May from April’s 22.2%, marking a near two-year low. Resumed Central Bank intervention...
Inflation in Hong Kong
In the year 2024, the inflation in Hong Kong was 1.73%, compared to 4.42% in 2014 and 2.10% in 2023. It averaged 2.19% over the last decade. For more inflation information, visit our dedicated page.
Hong Kong Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Hong Kong from 2024 to 2020.
Source: Macrobond.
Hong Kong Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.9 | 0.3 | 1.6 | 1.9 | 2.1 |
| Inflation (CPI, ann. var. %, eop) | 2.9 | -0.9 | 2.4 | 2.0 | 2.4 |
| Inflation (PPI, ann. var. %, aop) | 1.0 | 2.3 | 1.2 | 0.8 | 1.6 |
Inflation comes in at highest level since September 2024 in April
Latest reading: Inflation increased to 2.0% in April from March’s 1.4%. April's result marked the highest inflation rate since September 2024 but was still low by global standards, kept in check by mainland China’s huge manufacturing capacity and subdued retail sales as some Hong Kongers opted to shop on the mainland. The rise in inflation in April was linked to changes in government fiscal relief measures and higher travel costs. The trend pointed up slightly, with annual average inflation coming in at 1.7% in April (March: 1.6%). Lastly, consumer prices fell a seasonally adjusted 0.09% from the previous month in April, which was below the flat result logged in March. April's result marked the weakest reading since May 2024.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Hong Kong inflation projections for the next ten years from a panel of 27 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Hong Kong inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Hong Kong inflation projections.
Want to get access to the full dataset of Hong Kong inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
-
Angola: Inflation nears two-year low but remains among fastest in the region in May -
Argentina: Inflation falls to lowest level since March 2021 in May Latest reading: Inflation dropped to 43.5% in May, below April’s 47.3%. May’s result marked the lowest inflation rate since March... -
United States: Inflation rises in May but undershoots expectations Latest reading: Inflation ticked up to 2.4% in May from April’s 2.3%. The reading was slightly above the Fed’s 2.0%... -
Russia: Inflation cools for second straight month but remains above target in May Latest reading: Inflation fell for the second consecutive month in May, coming in at 9.9% (April: 10.2%) and marking the... -
Taiwan: Inflation declines to lowest level since March 2021 in May Latest reading: Inflation eased to 1.5% in May, below April’s 2.0%. May’s figure marked the weakest inflation rate since March... -
Thailand: Consumer prices drop further in May Latest reading: Consumer prices decreased 0.6% year on year in May, following April’s 0.2% fall. May’s reading represented the largest... -
Dominican Republic: Inflation increases to over one-year high in May Latest reading: Inflation rose to 3.8% in May from April’s 3.7%. May’s figure represented the highest inflation rate since November...