Hong Kong: Inflation falls to lowest level since the start of the year in May
June 22, 2020
Inflation came in at 1.5% in May, easing from April’s 1.9%. May's result represented the lowest inflation rate since January. The decrease was primarily driven by a sharp decline in utility costs and prices for clothing and footwear, while increases in food prices softened. When accounting for one-off government relief measures inflation was 1.9% in May, down from 2.3% in April.
For the March–May period, average month-on-month prices were flat, down from the 0.1% decline for the previous three-month period ending in April.
Author: Steven Burke, Economist