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Hong Kong Inflation May 2023

Hong Kong: Inflation holds steady in May

Inflation came in at 2.0% in May, unchanged from April’s result and below market expectations. May’s reading was muted by regional standards, tempered by strong food supply from mainland China, low inflation on the mainland and weak housing pressures due to population outflows in recent years.

The trend pointed up mildly, with annual average inflation coming in at 2.1% in May (April: 2.0%).

Lastly, consumer prices fell a seasonally adjusted 0.19% in May over the previous month, contrasting the 0.19% increase logged in April. May’s result marked the weakest reading since May 2022.

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