The Census and Statistics Department (C&SD) released today (September 23) the Consumer Price Index (CPI) figures for August 2026. According to the Composite CPI, overall consumer prices rose by 1.7% in August 2026 over the same month a year earlier, the same as that in July 2026. 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 August 2026 was 1.9%, also the same as that in July 2026.

     On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the 3-month period ending August 2026 was 0.2%, the same as that for the 3-month period ending July 2026. Netting out the effects of all Government's one-off relief measures, the corresponding rates of increase were both 0.2%.

     Analysed by sub-index, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 1.2%, 1.8% and 1.9% respectively in August 2026, as compared to 1.2%, 1.8% and 2.0% respectively in July 2026. 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 1.6%, 2.0% and 2.0% respectively in August 2026, as compared to 1.6%, 2.0% and 2.1% respectively in July 2026.

     On a seasonally adjusted basis, for the 3-month period ending August 2026, the average monthly rates of increase in the CPI(A), CPI(B) and CPI(C) were 0.2%, 0.1% and 0.1% respectively. The corresponding rates of increase for the 3-month period ending July 2026 were all 0.2%. Netting out the effects of all Government's one-off relief measures, the average monthly rates of increase in the seasonally adjusted CPI(A), CPI(B) and CPI(C) for the 3-month period ending August 2026 were 0.2%, 0.1% and 0.1% respectively, and the corresponding rates of increase for the 3-month period ending July 2026 were all 0.2%.

     Amongst the various components of the Composite CPI, year-on-year increases in prices were recorded in August 2026 for electricity, gas and water (11.5%), miscellaneous services (4.7%), transport (3.9%), miscellaneous goods (2.5%), meals out and takeaway food (1.1%), durable goods (0.8%), and housing (0.1%).

     On the other hand, year-on-year decrease in the component of the Composite CPI was recorded in August 2026 for basic food (-0.2%).

     As for alcoholic drinks and tobacco, and clothing and footwear, the Composite CPI in August 2026 remained unchanged over the same period a year earlier. 

     Taking the first 8 months of 2026 together, the Composite CPI rose by 1.7% over the same period a year earlier. The respective increases in the CPI(A), CPI(B) and CPI(C) were 1.5%, 1.8% and 1.8% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.7%, 1.4%, 1.8% and 1.8% respectively.

     For the 3 months ending August 2026, the Composite CPI rose by 1.7% over the same period a year earlier, while the CPI(A), CPI(B) and CPI(C) rose by 1.4%, 1.9% and 2.0% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.9%, 1.6%, 2.0% and 2.1% respectively.

     For the 12 months ending August 2026, the Composite CPI on average rose by 1.6% over the same period a year earlier. The respective increases in the CPI(A), CPI(B) and CPI(C) were 1.5%, 1.6% and 1.6% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.5%, 1.3%, 1.5% and 1.6% respectively.

Commentary

     A Government spokesman said that the underlying Composite CPI rose by 1.9% in August over a year earlier, same as the preceding month. While inflation of fuel-related items remained high, price pressures on other components were broadly in check, keeping overall inflation at a moderate level.

     Looking ahead, consumer price inflation will remain under upward pressure, as elevated international oil prices continue to feed through to fuel-related components. The renewed escalation of tensions in the Middle East of late remains a key uncertainty and warrants close monitoring. Yet, as price pressures on other fronts are expected to remain largely contained, overall inflation should stay moderate.

Further information
     
     The CPIs and year-on-year rates of change at section level for August 2026 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/Wednesday, September 23, 2026
Issued at HKT 16:30

NNNN