Latest reading: Inflation ticked up to 2.4% in July, following June’s 2.3%. Looking at the details of the release, prices...
Inflation in Hong Kong
Consumer price inflation in Hong Kong averaged 2.2% in the ten years to 2024, in line with the East & South Asia regional average of 2.5%. The 2024 average figure was 1.7%. For more information on inflation, visit our dedicated page.
Hong Kong Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Hong Kong from 2024 to 2020.
Source: Macrobond.
Hong Kong Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 0.3 | 1.6 | 1.9 | 2.1 | 1.7 |
| Inflation (CPI, ann. var. %, eop) | -0.9 | 2.4 | 2.0 | 2.4 | 1.4 |
| Inflation (PPI, ann. var. %, aop) | 2.3 | 1.2 | 0.8 | 1.6 | 2.9 |
Inflation falls to lowest level since June 2021 in July
Latest reading: Inflation came in at 1.0% in July, down from June’s 1.5%. July's result marked the weakest inflation rate since June 2021. As a result, inflation remained among the lowest rates in Asia, kept in check by mainland China’s huge manufacturing capacity and subdued retail sales as some Hong Kongers opt to shop on the mainland. Annual average inflation ticked down to 1.7% in July (June: 1.8%). Finally, consumer prices increased a seasonally adjusted 0.55% over the previous month in July, picking up from June's 0.09% rise. July's figure marked the highest reading since July 2024.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Hong Kong inflation projections for the next ten years from a panel of 27 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Hong Kong inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Hong Kong inflation projections.
Want to get access to the full dataset of Hong Kong inflation forecasts? Send an email to info@focus-economics.com.
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