FX.co ★ Hong Kong Inflation Rate Holds Steady

Hong Kong’s annual inflation rate was 1.7% in August 2026, unchanged from July. Housing costs rose modestly by 0.1%, while inflation picked up slightly for food (0.6% versus 0.5%) and utilities (11.5% versus 10.8%). Prices of durable goods also rebounded, increasing by 0.8% after a 0.2% decline in the previous month.

By contrast, inflation in transport eased, slowing to 3.9% from 5.0%. Prices for clothing and footwear, as well as for alcoholic drinks and tobacco, were flat compared with a year earlier.

The underlying Composite CPI, which excludes all one-off government relief measures, remained at 1.9%. Overall price pressures stayed broadly contained, even though fuel-related inflation remained elevated. On a monthly basis, consumer prices rose by 0.1%, after a 0.2% increase in July.

Looking ahead, the authorities expect higher global oil prices to continue feeding through into fuel-related components, exerting further upward pressure on inflation.