Rise of HK's consumer prices falls short of expectations

Hong Kong’s consumer price index rose by 1.4 percent in December 2024 compared to a year earlier but fell short of the market expectation of 1.5 percent, according to data released by the Census and Statistics Department yesterday.

Underlying consumer price inflation remained modest in December, a government spokesman said. Food prices as a whole continued to show a mild year-on-year increase. 

Prices of energy-related items saw slight increases, partly due to a low base of comparison.
Price pressures on other major components remained broadly in check. For 2024 as a whole, the underlying consumer price inflation rate averaged 1.1 percent.

Looking ahead, overall inflation should remain moderate in the near term, the government said.

As Hong Kong's economy continues to grow, domestic costs may see some upward pressures. External price pressures should remain contained, though uncertainties from the external environment should be monitored closely. The government said it will continue to monitor the situation.

JUNE CHEN