Hong Kong CPI rises 1.9pc in September

Hong Kong’s consumer price index rose by 1.9 percent in September from a year ago, compared to 1.7 percent in August, higher than the market expectation of 1.8 percent, government data showed on Thursday.

Netting out the effects of all Government's one-off relief measures, the underlying inflation rate in September 2026 was 2.1 percent, compared with 1.9 percent in August, due to the accelerated increases in inbound and outbound transport fares and the charges for package holidays, according to the Census and Statistics Department.

The underlying Composite CPI rose largely driven by faster price increases in fuel-related items, a government spokesman said.

Among the various components, electricity, gas, and water saw a significant price surge of 12.9 percent, followed by a 5.3 percent rise in miscellaneous services, a 5.2 percent increase in transport, and a 2.1 percent growth in miscellaneous goods.

Other components recorded included a 1.1 percent increase in durable goods, a 1 percent gain in meals out and takeaway food, a 0.3 percent climb in clothing and footwear, and a 0.2 percent in housing. 

Meanwhile, year-on-year decreases were recorded in components, with a 0.4 percent fall in alcoholic drinks and tobacco and a 0.2 percent drop in basic food.

Looking ahead, consumer price inflation will remain under upward pressure, as persistently elevated international oil prices feed through to fuel-related components amid ongoing geopolitical tension in the Middle East, according to the spokesman.

Yet, as price pressures on other fronts are expected to remain largely contained, overall inflation should stay moderate, the spokesman added.

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