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Hong Kong’s consumer price index rose 1.7 percent year on year in July 2026, as the government stresses that most price pressures are under control despite ongoing Middle East tensions and fuel-item inflation.
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The CPI was in line with market expectations. Notably, the increase was smaller than in June due to an additional government rate concession that was not in place in the same period last year, whereas it was in place in June of both years, data from the Census and Statistics Department showed on Thursday.
Netting out the effects of all the government’s one-off relief measures, the composite CPI rose 1.9 percent in July, the same as that in June.
A government spokesman said inflation of fuel-related items remained high, with some showing accelerated increases, and the continued feed-through of higher international oil prices to fuel-related components will increase upward pressure on the CPI.
Looking ahead, overall inflation remained moderate, with price pressures from other components generally under control despite uncertainties posed by persistent geopolitical tensions in the Middle East.
Among the various components of the composite CPI, electricity, gas, and water had the largest increase, rising 10.8 percent, followed by a 5 percent growth in transport, 4.9 percent in miscellaneous services, and 2.3 percent in miscellaneous goods. Meanwhile, meals out and takeaway food, clothing and footwear, alcoholic drinks and tobacco, and housing grew less than 1 percent.
On the other hand, durable goods and basic food declined by 0.2 percent in the composite CPI.
