Hong Kong’s annual inflation rate eased to 1.1% in January 2026, down from 1.4% in December. Price growth slowed for housing (1.1% vs 1.6% in December), food (0.5% vs 1%), and transport (1.3% vs 4.3%). At the same time, deflation deepened for durable goods (-2.8% vs -2.6%) and clothing and footwear (-2.3% vs -1.7%). In contrast, prices rebounded for electricity, gas and water (3% vs -1.6%), while inflation increased for miscellaneous services (2.9% vs 2.3%), miscellaneous goods (2.3% vs 1.2%), and alcoholic drinks and tobacco (2.7% vs 2%). On a monthly basis, consumer prices edged up 0.2% in January, down from 0.3% in the previous month. Excluding the government’s one-off relief measures, underlying inflation rose 1%, slowing from 1.2% in December.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Hong Kong Inflation Eases in January
Hong Kong’s annual inflation rate eased to 1.1% in January 2026, down from 1.4% in December. Price growth slowed for housing (1.1% vs 1.6% in December), food (0.5% vs 1%), and transport (1.3% vs 4.3%). At the same time, deflation deepened for durable goods (-2.8% vs -2.6%) and clothing and footwear (-2.3% vs -1.7%). In contrast, prices rebounded for electricity, gas and water (3% vs -1.6%), while inflation increased for miscellaneous services (2.9% vs 2.3%), miscellaneous goods (2.3% vs 1.2%), and alcoholic drinks and tobacco (2.7% vs 2%). On a monthly basis, consumer prices edged up 0.2% in January, down from 0.3% in the previous month. Excluding the government’s one-off relief measures, underlying inflation rose 1%, slowing from 1.2% in December.