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Hong Kong's Headline Inflation Quickens to 2% in May

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Hong Kong's composite consumer price index (CPI) rose 2% year over year in May, according to data from the Census and Statistics Department (C&SD) released on Tuesday.

The increase was larger than the 1.7% rise in consumer prices in April.

Netting out the effects of all government one-off relief measures, the underlying inflation rate edged up 1.9% year over year.

The pace accelerated from 1.6% recorded in the prior month, driven mainly by a faster rise in inbound and outbound transport fares and charges for package holidays, as well as higher charges for health services.

On a seasonally adjusted basis, the average monthly increase in the composite CPI was 0.1% for the three months ended May 31, compared with no change for the three months ended April 30.

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