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Hong Kong Inflation August 2023

Hong Kong: Inflation drops to lowest level since March in August

Inflation came in at 1.7% in August, which was down from July’s 1.8%. August’s reading represented the lowest inflation rate since March.

Annual average inflation remained at July’s 2.1% in August. Finally, consumer prices were unchanged in August over the previous month, matching July’s reading.

Price pressures have been contained so far in 2023 by the removal of Covid-19-related supply disruptions, lower international commodity this year compared to last, and the strong Hong Kong dollar thanks to its USD peg. Price pressures are expected to remain mild ahead.

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