Hong Kong's Composite Consumer Price Index rose 1.7% in July 2026 compared with the same month a year earlier, smaller than the 2.0% increase in June 2026, the Census and Statistics Department reported on August 20, 2026. It attributed the smaller rise mainly to the Government's rates concession in July 2026, whereas July 2025 had no such concession and June had one in both years. Netting out all Government one-off relief measures, the underlying inflation rate was 1.9%, the same as in June.

By sub-index, year-on-year increases in July were 1.2% for CPI(A), 1.8% for CPI(B) and 2.0% for CPI(C), against 1.8%, 2.1% and 2.2% in June. On a seasonally adjusted basis, the average monthly rise in the Composite CPI was 0.2% for the three months ending July 2026, versus 0.1% for the three months ending June 2026.

Among Composite CPI components, prices rose for electricity, gas and water (10.8%), transport (5.0%) and miscellaneous services (4.9%), while durable goods and basic food each fell 0.2%. A Government spokesman said fuel-related inflation stayed high, but overall inflation remained moderate, with higher international oil prices and Middle East geopolitical tensions cited as uncertainties.