The Zhitong Finance App learned that the Statistics Department of the Hong Kong Special Administrative Region Government announced the consumer price index for September 2026 on October 22. According to the Composite Consumer Price Index, overall consumer prices in September 2026 rose 1.9% compared to the same month a year ago, which is higher than the corresponding increase (1.7%) in August 2026. Excluding the impact of all one-time government relief measures, the composite consumer price index increased by 2.1% year-on-year in September 2026 (i.e. the basic inflation rate), which was also higher than in August 2026 (1.9%). The year-on-year increase in September 2026 was mainly due to an acceleration in the increase in transportation and package travel expenses in and out of Hong Kong.
The seasonally adjusted composite consumer price index has an average monthly increase of 0.2% for the three months ending September 2026, which is the same as the corresponding increase for the three months ending August 2026. Excluding the impact of all one-time government relief measures, the corresponding increase was 0.2%.
Based on the segmented index analysis, the year-on-year increases of 1.4%, 2.0% and 2.3% in September 2026 were respectively 1.4%, 2.0% and 2.3%, while the corresponding increases in August 2026 were 1.2%, 1.8% and 1.9%, respectively. Excluding the impact of all one-time government relief measures, the year-on-year increases of 1.7%, 2.2% and 2.4% in September 2026 were 1.7%, 2.2% and 2.4%, respectively, and 1.6%, 2.0% and 2.0% in August 2026, respectively.
The seasonally adjusted consumer price indices for categories A, B and C all showed an average monthly increase of 0.2% for the three months ending September 2026, while the corresponding increases for the three months ended August 2026 were 0.2%, 0.1% and 0.1%, respectively. Excluding the impact of all one-time government relief measures, the average monthly increases in the seasonally adjusted consumer price indices for the three months ended September 2026 were 0.1%, 0.2% and 0.2%, respectively, while the corresponding increases for the three months ended August 2026 were 0.2%, 0.1% and 0.1%, respectively.
Among the various composite consumer price index components, the categories that recorded year-on-year increases in prices in September 2026 were electricity, gas and water (up 12.9%), miscellaneous services (up 5.3%), transportation (up 5.2%), miscellaneous goods (up 2.1%), durable goods (up 1.1%), dining out and takeout (up 1.0%), clothing (up 0.3%), and housing (up 0.2%).
On the other hand, the composite consumer price index recorded a year-on-year decline in September 2026 in the categories of tobacco and alcohol (down 0.4%), and basic food (down 0.2%).
Based on the first nine months of 2026 combined, the composite consumer price index increased by 1.7% compared to the same period a year ago. The corresponding increases of 1.5%, 1.8% and 1.9% for category A, category B and C consumer price indices were respectively. Excluding the impact of all one-time government relief measures, the corresponding increases were 1.7%, 1.4%, 1.8% and 1.9%, respectively.
In the third quarter of 2026, the composite consumer price index increased by 1.7% compared to the same period a year ago, while the consumer price indices for categories A, B and C increased by 1.3%, 1.9% and 2.1%, respectively. Excluding the impact of all one-time government relief measures, the corresponding increases were 2.0%, 1.7%, 2.1% and 2.2%, respectively.
For the 12 months ended September 2026, the composite consumer price index increased by an average of 1.6% compared to the same period a year ago. The corresponding increases of 1.5%, 1.7% and 1.7% for category A, category B and C consumer price indices were respectively. Excluding the impact of all one-time government relief measures, the corresponding increases were 1.6%, 1.3%, 1.6% and 1.7%, respectively.
A spokesman for the Hong Kong government said that the basic composite consumer price index rose 2.1% year-on-year in September, up from 1.9% last month, mainly driven by increased price increases for fuel-related projects. However, the price increases for other major components were mostly slight, keeping overall inflation moderate.
Looking ahead, consumer price inflation will still face upward pressure. As the geopolitical situation in the Middle East continues to be tense, the impact of high international oil prices will continue to be transmitted to fuel-related projects. However, as other price pressures are expected to remain largely under control, overall inflation should remain moderate.