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Hong Kong Inflation

Hong Kong Inflation

Inflation in Hong Kong

Consumer price inflation in Hong Kong averaged 2.5% in the ten years to 2022, above the Asia-Pacific regional average of 2.1%. The 2022 average figure was 1.9%. For more inflation information, visit our dedicated page.

Hong Kong Inflation Chart

Note: This chart displays Inflation Rate (CPI, annual variation in %) for Hong Kong from 2023 to 2020.
Source: Macrobond.

Hong Kong Inflation Data

2019 2020 2021 2022 2023
Inflation (CPI, ann. var. %, aop) 2.9 0.3 1.6 1.9 2.1
Inflation (CPI, ann. var. %, eop) 2.9 -0.9 2.4 2.0 2.4
Inflation (PPI, ann. var. %, aop) 1.0 2.3 1.2 0.8 1.6

Inflation rises in June but remains subdued

Inflation increased to 1.4% in June, slightly above May’s 1.1%. As such, inflation remained among the lowest rates in Asia, kept in check by mainland China’s huge manufacturing capacity, the currency peg to the U.S. dollar, and subdued retail sales as some Hong Kongers opt to shop on the mainland. Annual average inflation was unchanged at May's 1.9% in June. Finally, consumer prices increased a seasonally adjusted 0.47% in June over the previous month, contrasting May's 0.19% fall. June's figure was the highest reading since October 2023.

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 28 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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