Hong Kong: Inflation drops to lowest level since March in August
Inflation came in at 1.7% in August, which was down from July’s 1.8%. August’s reading represented the lowest inflation rate since March.
Annual average inflation remained at July’s 2.1% in August. Finally, consumer prices were unchanged in August over the previous month, matching July’s reading.
Price pressures have been contained so far in 2023 by the removal of Covid-19-related supply disruptions, lower international commodity this year compared to last, and the strong Hong Kong dollar thanks to its USD peg. Price pressures are expected to remain mild ahead.