Can you explain what the Content Hugging Priority parameter means in the context of Auto Layout?

Content Hugging Priority in Auto Layout determines how strongly an element wants to maintain its minimum size and not expand. The higher the priority, the more the element resists increasing its size beyond its content.

For example, if two UILabels in a horizontal stack have conflicting sizes, the one with the higher Content Hugging Priority will have a width closer to the minimum necessary to display the text, while the other UILabel may expand.