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Hong Kong Inflation June 2022

Hong Kong: 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.

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