Hong Kong: 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.