Group 1 - The overall Consumer Price Index (CPI) increased by 0.38% year-on-year for the twelve months ending in May 2025 [1][2] - Significant price increases were observed in categories such as Miscellaneous Goods and Services (+2.41%), Education (+1.9%), and Medical (+1.44%), while Transportation (-2.87%) and Information and Communication (-1.34%) saw declines [2] - The CPI for food and non-alcoholic beverages rose by 0.55% in the first five months of the year, contributing to the overall CPI increase [2] Group 2 - In May 2025, the CPI decreased by 0.05% compared to April, with notable declines in Transportation (-0.56%) and Recreation, Sports, and Culture (-0.42%) [1] - The price index for food and non-alcoholic beverages fell by 0.03% month-on-month, driven by lower prices for fruits, fresh fish, seafood, cooking oil, and vegetables [1] - The price indices for Clothing (+0.71%) and Household Equipment and Services (+0.28%) increased month-on-month [1]

Core Insights - The overall consumer price index (CPI) in Hong Kong increased by 1.9% in May 2025 compared to the same month last year, slightly lower than the 2.0% increase in April 2025 [1] - The basic inflation rate, excluding one-off government relief measures, was 1.0% in May 2025, down from 1.3% in April 2025 [1] - The decrease in the year-on-year increase was primarily due to a decline in transportation and tourism costs [1] Summary by Categories - The average monthly change rate of the seasonally adjusted CPI for the three months ending in May 2025 was -0.1%, consistent with the rate for the three months ending in April 2025 [2] - The year-on-year increases for categories A, B, and C in May 2025 were 2.8%, 1.6%, and 1.2% respectively, compared to 2.6%, 1.8%, and 1.6% in April 2025 [1][2] - The categories with year-on-year price increases in May 2025 included electricity, gas, and water (up 19.7%), housing (up 2.9%), and transportation (up 2.2%) [2] - Conversely, categories that recorded year-on-year price declines included clothing (down 5.3%), durable goods (down 2.3%), and basic food items (down 1.4%) [2] Additional Insights - For the first five months of 2025, the overall CPI rose by 1.7%, with category A, B, and C increases of 2.4%, 1.5%, and 1.3% respectively [3] - The government spokesperson indicated that recent inflation in consumer prices remains mild, with the basic CPI increasing by 1.0% year-on-year in May [3] - Future inflation is expected to remain mild in the short term, with local costs and external price pressures being largely controllable [3]

Core Insights - The overall consumer price index (CPI) in Macau increased by 0.23% year-on-year in April 2025, with a month-on-month rise of 0.16% [1] - For the twelve months ending in April 2024, the average CPI rose by 0.42% compared to the same period a year earlier [2] Price Index Changes - The price indices for Recreation, Sports, and Culture, and Miscellaneous Goods and Services increased by 2.47% and 1.82% respectively compared to the previous year [1] - The food and non-alcoholic beverages category saw a year-on-year increase of 0.48%, driven by higher dining and takeaway costs, while housing and fuel rose by 0.21% due to increased rental prices [1] - Conversely, categories such as Information and Communication (-3.01%), Clothing (-2.35%), and Transportation (-1.67%) experienced declines [1] Monthly Comparisons - Compared to March, the CPI rose by 0.16% in April, with significant increases in the Recreation, Sports, and Culture category (+2.6%) due to rising hotel prices [2] - The Clothing (+0.78%) and Transportation (+0.42%) categories also saw month-on-month increases, influenced by seasonal clothing availability and rising airfare [2] - The Information and Communication category saw a slight decrease of -0.07%, while the food and non-alcoholic beverages category fell by -0.04% due to price drops in fresh fish, seafood, vegetables, and fruits [2] Consumer Spending Categories - Macau's statistical bureau has compiled three series of consumer price indices to reflect price changes affecting different household spending groups [3] - The A and B class consumer price indices cover approximately 50% and 30% of households respectively, with average monthly expenditures ranging from 11,000 to 35,999 MOP and 36,000 to 71,999 MOP [3] - The categories of housing and fuel, food and non-alcoholic beverages, and transportation have significant weight in household spending, accounting for 34.47%, 29.47%, and 8.33% respectively [3]

Core Viewpoint - In April 2025, Hong Kong's overall consumer price index (CPI) increased by 2.0% year-on-year, reflecting a rise from 1.4% in March 2025, primarily due to lower government tax relief measures compared to the previous year [1][4] Group 1: Consumer Price Index Overview - The basic inflation rate, excluding one-off government relief measures, was 1.3% in April 2025, up from 1.0% in March 2025 [1][4] - The seasonally adjusted average monthly change in the CPI for the three months ending April 2025 was -0.1%, compared to 0.0% for the three months ending March 2025 [1][2] Group 2: Sub-Index Analysis - The year-on-year increases in the consumer price indices for categories A, B, and C in April 2025 were 2.6%, 1.8%, and 1.6%, respectively, compared to 2.0%, 1.2%, and 1.0% in March 2025 [2] - Excluding government relief measures, the year-on-year increases for categories A, B, and C in April 2025 were 1.4%, 1.1%, and 1.2%, respectively [2] Group 3: Price Changes by Category - In April 2025, significant year-on-year price increases were observed in electricity, gas, and water (up 13.2%), transportation (up 3.8%), housing (up 2.8%), and miscellaneous services (up 2.1%) [3] - Conversely, categories such as clothing (down 4.1%), durable goods (down 1.6%), and basic food items (down 1.3%) experienced price declines [3] Group 4: Year-to-Date and Recent Trends - For the first four months of 2025, the overall CPI rose by 1.7% year-on-year, with category A, B, and C indices increasing by 2.3%, 1.5%, and 1.3%, respectively [3] - The average CPI increase for the twelve months ending April 2025 was 1.7%, with category A, B, and C indices rising by 2.2%, 1.6%, and 1.4%, respectively [4]