Hong Kong Economic and Trade Office, USA
Hong Kong
News Release

Consumer Price Indices for May 2019



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June 21, 2019 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the Consumer Price Index (CPI) figures for May 2019.

According to the Composite CPI, overall consumer prices rose by 2.8% in May 2019 over the same month a year earlier, slightly smaller than the corresponding increase (2.9%) in April 2019. Netting out the effects of all Government’s one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in May 2019 was also 2.8%, slightly smaller than that in April 2019 (2.9%), mainly due to the smaller increases in the charges for package tours and the decreases in local transport fares in May 2019.

On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the three-month period ending May 2019 was 0.3%, and that for the three-month period ending April 2019 was 0.4%. Netting out the effects of all Government's one-off relief measures, the corresponding rates of increase were 0.2% and 0.3%.

A Government spokesman said that the underlying consumer price inflation rate edged down to 2.8% in May. Price pressures on most major CPI components were largely contained, though price of basic foodstuffs showed a visibly larger year-on-year increase amid the supply disruption to fresh pork.

Looking ahead, inflation will likely remain moderate in the near term, in tandem with the easing in fresh-letting residential rentals earlier on and in external price pressures. The Government will continue to monitor the inflation situation closely, particularly the impact on the lower-income people.

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