Source: Hong Kong Government special administrative region
The Census and Statistics Department (C&SD) released today (February 25) the Consumer Price Index (CPI) figures for January 2026. According to the Composite CPI, overall consumer prices rose by 1.1% in January 2026 over the same month a year earlier, smaller than the corresponding increase (1.4%) 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 (i.e. the underlying inflation rate) in January 2026 was 1.0%, also smaller than that in December 2025 (1.2%). The smaller increases in January 2026 were mainly due to the high base of comparison stemming from the Chinese New Year falling in January last year, in particular inbound and outbound transport fares.
On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the 3-month period ending January 2026 was 0.2%, the same as that for the 3-month period ending December 2025. Netting out the effects of all Government’s one-off relief measures, the corresponding rates of increase were both 0.2%.