Prices for tobacco and alcohol, utilities, transportation, food and restaurants, and housing rose, while prices for clothing, durable goods, and basic food items declined.
These price changes had multifaceted impacts on daily life in Hong Kong.
On one hand, rising costs for necessities like housing, transportation, and dining out increased the living expenses for residents, especially for low-income households.
On the other hand, the decline in food prices provided some relief for consumers.
Moreover, the stability of the CPI in 2024, despite global economic uncertainties, reflects the resilience of Hong Kong’s economy.
The absence of significant price volatility helped maintain consumer confidence and supported the continuous development of the economy.