Consumer Price Indices for July 2025
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On a seasonally adjusted basis, the average monthly rate of change in the Composite CPI for the 3-month period ending July 2025 was 0.2%, and that for the 3-month period ending June 2025 was 0.0%. Netting out the effects of all Government's one-off relief measures, the corresponding rates of change were both 0.1%.
Analysed by sub-index, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 1.5%, 0.9% and 0.6% respectively in July 2025, as compared to 2.1%, 1.3% and 0.9% respectively in June 2025. Netting out the effects of all Government's one-off relief measures, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 1.4%, 0.9% and 0.6% respectively in July 2025, as compared to 1.5%, 0.9% and 0.7% respectively in June 2025.
On a seasonally adjusted basis, for the 3-month period ending July 2025, the average monthly rates of change in the CPI(A), CPI(B) and CPI(C) were 0.4%, 0.2% and 0.1% respectively. The corresponding rates of change for the 3-month period ending June 2025 were all 0.0%. Netting out the effects of all Government's one-off relief measures, the average monthly rates of change in the seasonally adjusted CPI(A), CPI(B) and CPI(C) for the 3-month period ending July 2025 were 0.1%, 0.1% and 0.0% respectively, and the corresponding rates of change for the 3-month period ending June 2025 were 0.2%, 0.1% and 0.0% respectively.
Amongst the various components of the Composite CPI, year-on-year increases in prices were recorded in July 2025 for housing (1.8%), alcoholic drinks and tobacco (1.7%), transport (1.4%), meals out and takeaway food (1.3%), miscellaneous services (1.0%), electricity, gas and water (0.7%), and miscellaneous goods (0.3%).
On the other hand, year-on-year decreases in the components of the Composite CPI were recorded in July 2025 for clothing and footwear (-3.3%), durable goods (-2.3%), and basic food (-0.1%).
Taking the first 7 months of 2025 together, the Composite CPI rose by 1.6% over a year earlier. The respective increases in the CPI(A), CPI(B) and CPI(C) were 2.2%, 1.4% and 1.1% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.2%, 1.5%, 1.0% and 0.9% respectively.
For the 3 months ending July 2025, the Composite CPI rose by 1.5% over a year earlier, while the CPI(A), CPI(B) and CPI(C) rose by 2.1%, 1.3% and 0.9% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.0%, 1.4%, 0.9% and 0.7% respectively.
For the 12 months ending July 2025, the Composite CPI was on average 1.7% higher than that in the preceding 12-month period. The respective increases in the CPI(A), CPI(B) and CPI(C) were 2.2%, 1.5% and 1.3% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.2%, 1.4%, 1.1% and 1.0% respectively.
Commentary
A Government spokesman said that consumer price inflation stayed modest in July. The underlying Composite CPI increased by 1.0% over a year earlier, same as the increase in the preceding month. Price pressures on major components were largely contained.
Looking ahead, as pressures from domestic costs and external prices stay broadly in check, overall inflation should remain modest in the near term.
Further information
The CPIs and year-on-year rates of change at section level for July 2025 are shown in Table 1. The time series on the year-on-year rates of change in the CPIs before and after netting out the effects of all Government's one-off relief measures are shown in Table 2. For discerning the latest trend in consumer prices, it is also useful to look at the changes in the seasonally adjusted CPIs. The time series on the average monthly rates of change during the latest 3 months for the seasonally adjusted CPIs are shown in Table 3. The rates of change in the original and the seasonally adjusted Composite CPI and the underlying inflation rate are presented graphically in Chart 1.
More detailed statistics are given in the "Monthly Report on the Consumer Price Index". Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1060001&scode=270).
For enquiries about the CPIs, please contact the Consumer Price Index Section of the C&SD (Tel: 3903 7374 or email: cpi@censtatd.gov.hk).
Ends/Thursday, August 21, 2025
Issued at HKT 16:30
Issued at HKT 16:30
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