Inflation Hong Kong 2024
Average inflation: 1.7%
Current Inflation
Inflation is low at 1.7%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in July at 2.5%. The lowest inflation was in April at 1.1%.
- Highest month
- July: 2.5%
- Lowest month
- April: 1.1%
- Difference
- 1.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Core inflation with an average of 1.8%. The lowest price increase was in Core inflation with an average of 1.8%.
- Highest increase
- Core inflation: 1.8%
- Lowest increase
- Core inflation: 1.8%
Historical Context
Current inflation is around the 5-year average of 1.5%.
- 5-year average
- 1.5%
- 10-year average
- 1.7%
- All-time high (2019)
- 2.9%
- All-time low (2020)
- 0.2%
Trend
Inflation has remained relatively stable. Compared to 2023, the difference is minimal (-0.4 percentage point).
- Change vs. previous year
- -0.4 percentage points
- Largest monthly swing
- October: -1.5 percentage points
ECB Target
Inflation is 0.3% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €101.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 1.7% | -0.7 |
| February | 2.1% | +0.4 |
| March | 2.0% | +0.4 |
| April | 1.1% | -0.9 |
| May | 1.1% | -0.9 |
| June | 1.4% | -0.5 |
| July | 2.5% | +0.7 |
| August | 2.5% | +0.8 |
| September | 2.2% | +0.2 |
| October | 1.3% | -1.5 |
| November | 1.4% | -1.1 |
| December | 1.4% | -1.0 |
| Average | 1.7% |
Data source
Data from WorldBank. Last updated: 06/01/2026.