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
- 2%
- All-time high (2011)
- 5.3%
- 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 HK$100 this year will cost approximately HK$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.