Consumer Price Indices for December 2025
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On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the 3-month period ending December 2025 was 0.2%, and that for the 3-month period ending November 2025 was 0.1%. Netting out the effects of all Government's one-off relief measures, the corresponding rates of increase were 0.2% and 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%, 1.3% and 1.4% respectively in December 2025, as compared to 1.5%, 1.1% and 1.1% respectively in November 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 1.0%, 1.2% and 1.4% respectively in December 2025, as compared to 0.9%, 1.0% and 1.1% respectively in November 2025.
On a seasonally adjusted basis, for the 3-month period ending December 2025, the average monthly rates of change in the CPI(A), CPI(B) and CPI(C) were 0.1%, 0.2% and 0.3% respectively. The corresponding rates of change for the 3-month period ending November 2025 were 0.0%, 0.1% and 0.1% respectively. 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 December 2025 were 0.1%, 0.2% and 0.3% respectively, and the corresponding rates of change for the 3-month period ending November 2025 were 0.0%, 0.1% and 0.1% respectively.
Amongst the various components of the Composite CPI, year-on-year increases in prices were recorded in December 2025 for transport (4.3%), miscellaneous services (2.3%), alcoholic drinks and tobacco (2.0%), housing (1.6%), miscellaneous goods (1.2%), meals out and takeaway food (1.1%), and basic food (0.7%).
On the other hand, year-on-year decreases in the components of the Composite CPI were recorded in December 2025 for durable goods (-2.6%), clothing and footwear (-1.7%), and electricity, gas and water (-1.6%).
In the fourth quarter of 2025, the Composite CPI rose by 1.3% over a year earlier, while the CPI(A), CPI(B) and CPI(C) rose by 1.4%, 1.2% and 1.2% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.1%, 1.0%, 1.1% and 1.2% respectively.
For 2025 as a whole, the Composite CPI was 1.4% higher than that in the preceding year. The respective increases in the CPI(A), CPI(B) and CPI(C) were 1.9%, 1.3% and 1.1% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.1%, 1.3%, 1.0% and 1.0% respectively.
Commentary
A Government spokesman said that consumer price inflation stayed modest in December 2025. The underlying Composite CPI increased by 1.2% in the month over a year earlier, giving an annual increase of 1.1% for 2025 as a whole, same as the preceding year. Price pressures on various major components remained generally contained.
Looking ahead, overall inflation should stay modest in the near term, as domestic cost and external price pressures are still mild.
Further information
The CPIs and year-on-year rates of change at section level for December 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, January 22, 2026
Issued at HKT 16:30
Issued at HKT 16:30
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