Consumer price index rose 1.1pc in January year-on-year, overall inflation stays mild

Hong Kong's consumer price index rose 1.1 percent in January over the same month a year earlier, and the government expects overall inflation to stay mild in the near term, according to the latest data released by the Census and Statistics Department on Wednesday.

The CPI was lower than the market expectation of 1.2 percent, and the increase was smaller than the corresponding 1.4 percent increase in December 2025.

Netting out the effects of all government’s one-off relief measures, the year-on-year rate of increase in the composite CPI in January was 1 percent, also smaller than that in December 2025, which was 1.2 percent.

A government spokesperson said January increases were smaller mainly because of the high comparison base from last year's Chinese New Year, especially for inbound and outbound transport fares.
Looking ahead, external price pressures are expected to remain moderate, while domestic costs may rise along with Hong Kong's growing economy.

Among the various components of the composite CPI, year-on-year increases in prices were recorded in January for electricity, gas and water at 3 percent, miscellaneous services at 2.9 percent, alcoholic drinks and tobacco at 2.7 percent, miscellaneous goods at 2.3 percent, transport at 1.3 percent, housing at 1.1 percent, and meals out and takeaway food at 1 percent.

While the year-on-year decreases in the components of the composite CPI were recorded in January for durable goods at 2.8 percent, clothing and footwear at 2.3 percent, and basic food at 0.3 percent.
 

Gloria Leung