Source: Hong Kong Information Services
Overall consumer prices rose 1.7% year on year in February, a larger increase than the 1.1% year-to-year rise recorded in January, the Census & Statistics Department announced today.
Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1.6% in February, also larger than that seen in the previous month.
The Government attributed the increase mainly to higher charges for package tours and inbound and outbound transport fares during the Chinese New Year. The different timing of the festival – falling in January 2025 – also resulted in a lower base of comparison for February 2025.
Compared with January 2025, year-on-year increases in prices were recorded in the following categories: miscellaneous services; transport; electricity, gas and water; miscellaneous goods; alcoholic drinks and tobacco; housing; meals out and takeaway food; and basic food.
Meanwhile, year-on-year decreases were logged for clothing and footwear as well as durable goods.
The Government said that consumer price inflation stayed modest in early 2026, with price pressures on various major components remaining broadly in check.
Taking January and February together to remove the distortions caused by the different timing of the Chinese New Year in 2025 and 2026, the underlying composite consumer price index rose 1.3% from a year earlier, slightly higher than the 1.2% increase recorded in December.
However, as international oil prices have surged since the end of February amid heightened geopolitical tensions, import price pressures for specific fuel-related items have risen. The Government stated it is monitoring external developments closely and stands ready to respond as appropriate to safeguard price stability.