Hong Kong Inflation May 2020

Hong Kong

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.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.5% in 2020, which is unchanged from the previous month’s forecasts. In 2021, our panel expects inflation to average 2.0%.

Author:, Economist

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Hong Kong Inflation Chart

Hong Kong Inflation May 20 20

Note: Year-on-year and annual average variation of consumer price index in %.
Source: Census and Statistics Department Hong Kong and FocusEconomics Consensus Forecast.

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