Latest reading: Consumer prices increased 10.9% in annual terms in May, following a 10.7% increase in the prior month. May’s...
Inflation in Hong Kong
Consumer price inflation in Hong Kong averaged 2.2% in the ten years to 2024, in line with the East & South Asia regional average of 2.5%. The 2024 average figure was 1.7%. For more information on inflation, visit our dedicated page.
Hong Kong Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Hong Kong from 2014 to 2025.
Source: Macrobond.
Hong Kong Inflation Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 1.6 | 1.9 | 2.1 | 1.7 | 1.4 |
| Inflation (CPI, ann. var. %, eop) | 2.4 | 2.0 | 2.4 | 1.4 | 1.5 |
| Inflation (PPI, ann. var. %, aop) | 1.2 | 0.8 | 1.6 | 2.9 | 4.0 |
Inflation accelerates in April from the prior month
Latest reading: Consumer prices were up 1.8% in annual terms in April, following a 1.7% rise in the previous month. April's reading was the strongest since May 2025. Inflation accelerated chiefly in electricity, gas and water, rising to 5.5% from 3.9% in March, and in transport, up to 4.3% from 3.9%. In contrast, food and miscellaneous services inflation eased somewhat. Finally, consumer prices declined 0.09% in April on a month-on-month basis, following a flat reading in the prior month.
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 31 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.
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