Financial News: Hong Kong Inflation Climbs To 13-month High

Hong Kong Inflation Climbs To 13-month High

06/23/2026 - 05:10:00 (RTTNews)

(RTTNews) - Hong Kong's consumer price inflation accelerated in May to the highest level just over a year amid higher transport and utility costs, data released by the Census and Statistics Department showed on Tuesday.

The consumer price index, or CPI, climbed 2.0 percent year-over-year in May, faster than April's stable in increase of 1.7 percent. Moreover, a similar inflation rate was last seen in April 2025.

Netting out the effects of all governments' one-off relief measures, the underlying inflation rate rose to 1.9 percent from 1.6 percent.

Inflation based on transportation rose to 5.1 percent from 4.5 percent amid higher fuel costs. Utility charges grew at a faster pace of 6.6 percent versus 5.5 percent in May.

Food inflation held steady at 0.7 percent, and clothing and footwear prices logged a renewed increase of 1.0 percent. Meanwhile, the deflation in durable goods slowed to 1.2 percent from 1.9 percent.

On a seasonally adjusted basis, the average monthly rate of change in the Composite CPI for the 3-month period ending May was 0.1 percent.

"Looking ahead, while the recent de-escalation of geopolitical tensions in the Middle East has contributed to a decline in international oil prices, the earlier surge in oil prices will continue feeding through to fuel-related components of consumer prices in the coming months," a government spokesman said.

"Meanwhile, price in other areas remain largely stable, which should help keep overall inflation moderate."

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