Consumer Prices Index Rises 1.9% in September, Driven by Rising Transport and Holiday Costs

Consumer Price Indices for September 2026

The Census and Statistics Department (C&SD) released today (October 22) the Consumer Price Index (CPI) figures for September 2026. According to the Composite CPI, overall consumer prices rose by 1.9% in September 2026 over the same month a year earlier, larger than the corresponding increase (1.7%) in August 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 September 2026 was 2.1%, also larger than that in August 2026 (1.9%). The larger increase in September 2026 was mainly due to the accelerated increases in inbound and outbound transport fares and the charges for package holidays.

The Census and Statistics Department. Photo source: reference image

On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the 3-month period ending September 2026 was 0.2%, the same as that for the 3-month period ending August 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 1.4%, 2.0% and 2.3% respectively in September 2026, as compared to 1.2%, 1.8% and 1.9% respectively in August 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 1.7%, 2.2% and 2.4% respectively in September 2026, as compared to 1.6%, 2.0% and 2.0% respectively in August 2026.

Photo source: reference image

On a seasonally adjusted basis, for the 3-month period ending September 2026, the average monthly rates of increase in the CPI(A), CPI(B) and CPI(C) were all 0.2%. The corresponding rates of increase for the 3-month period ending August 2026 were 0.2%, 0.1% and 0.1% respectively. 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 September 2026 were 0.1%, 0.2% and 0.2% respectively, and the corresponding rates of increase for the 3-month period ending August 2026 were 0.2%, 0.1% and 0.1% respectively.

Amongst the various components of the Composite CPI, year-on-year increases in prices were recorded in September 2026 for electricity, gas and water (12.9%), miscellaneous services (5.3%), transport (5.2%), miscellaneous goods (2.1%), durable goods (1.1%), meals out and takeaway food (1.0%), clothing and footwear (0.3%), and housing (0.2%).

On the other hand, year-on-year decreases in the components of the Composite CPI were recorded in September 2026 for alcoholic drinks and tobacco (-0.4%), and basic food (-0.2%).

Photo source: reference image

Taking the first 9 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 1.9% 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 1.9% respectively.

In the third quarter of 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 1.3%, 1.9% and 2.1% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 2.0%, 1.7%, 2.1% and 2.2% respectively.

For the 12 months ending September 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%, 1.7% and 1.7% respectively. The corresponding increases after netting out the effects of all Government's one-off relief measures were 1.6%, 1.3%, 1.6% and 1.7% respectively.

Photo source: reference image

Commentary

A Government spokesman said that the underlying Composite CPI rose by 2.1% in September over a year earlier, up from 1.9% in the preceding month, largely driven by faster price increases in fuel-related items. Yet, price increases of other components were largely modest, thus keeping overall inflation moderate.

Looking ahead, consumer price inflation will remain under upward pressure, as persistently elevated international oil prices feed through to fuel-related components amid ongoing geopolitical tension in the Middle East. Yet, as price pressures on other fronts are expected to remain largely contained, overall inflation should stay moderate.

Photo source: reference image

Further information

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).

2026 Maker in China SME Innovation and Entrepreneurship Global Contest - Hong Kong Chapter successfully held

The 2026 Maker in China SME Innovation and Entrepreneurship Global Contest - Hong Kong Chapter (MiCHK) Final was held successfully at Cyberport today (October 22). "Industrialization of Flexible, Ultrathin Diamond Wafers" by DiamNEX Limited won the Champion prize, while "NeuroHarbor-AI diagnosis and treatment platform for brain diseases" by NeuroHarbor Limited and "Embodied AI Neurorehabilitation Platform" by Sharpsight Limited won the First Runner-up and Second Runner-up prizes respectively. The three winning teams will represent the Hong Kong Special Administrative Region (HKSAR) to compete in the Global Final Contest of the Maker in China to be held in Guangzhou at the end of this year.

Addressing the event, the Acting Commissioner for Digital Policy, Mr Daniel Cheung, said that the MiCHK serves as an important platform for local start-ups and small and medium-sized enterprises (SMEs) to showcase their innovation and technology (I&T) achievements and expand into the Mainland markets. It enables investors and enterprises from the Mainland to gain an understanding of Hong Kong's quality I&T outcomes, helping these enterprises tap into the Mainland market. He noted that in recent years, multiple shortlisted teams have successfully connected with enterprises. Among them, some teams have entered into co-operation agreements with Mainland governments, while others have attracted attention from investment funds. This has helped accelerate the commercialisation of technological outcomes, enhance brand influence, and further expand into both Mainland and overseas markets.

Mr Cheung congratulated all award-winning teams and encouraged all participating teams to leverage the various government start-up support schemes. He also urged them to focus on the Mainland marketas a key development direction, seize the opportunities presented by the nation's development of new quality productive forces, and better integrate into and serve the country's overall development.

This year's competition attracted a total of 170 local innovation projects, setting an all-time high for entries. Following a preliminary screening and a semi-final held earlier, the top 10 projects advanced to the Final today. The shortlisted project teams delivered live pitches to a panel of judges from various I&T fields, competing for the Champion, First Runner-up, and Second Runner-up honours. The organiser also arranged one-on-one meetings between the 10 shortlisted project teams and investors and corporate representatives from the Guangdong-Hong Kong-Macao Greater Bay Area, facilitating matchmaking discussions on financing and project co-operation.

In addition, the shortlisted teams will have the opportunity to participate in start-up incubation programmes and exhibition events, connect with Mainland investors, establish a presence in the Mainland start-up parks, and receive professional guidance to support the commercialisation of their project outcomes and market expansion. Please refer to makerinchina.hk/ for details about the entries.

With the support of the Guangzhou Municipal Industry and Information Technology Bureau, the Hong Kong and Macao Affairs Office of the People's Government of Guangzhou Municipality and the Guangzhou Municipal Huangpu District Industry and Information Technology Bureau, this is the eighth time the regional chapter has taken place in Hong Kong. The 2026 MiCHK is organised by the Digital Policy Office of the HKSAR Government, together with the China Centre for Promotion of SME Development of the Ministry of Industry and Information Technology of the People's Republic of China, and the China International Cooperation Association of SMEs. It is formulated by the Hong Kong Cyberport Management Company Limited and the Angel Investment Foundation.

2026 Maker in China SME Innovation and Entrepreneurship Global Contest - Hong Kong Chapter successfully held Source: HKSAR Government Press Releases

2026 Maker in China SME Innovation and Entrepreneurship Global Contest - Hong Kong Chapter successfully held Source: HKSAR Government Press Releases

2026 Maker in China SME Innovation and Entrepreneurship Global Contest - Hong Kong Chapter successfully held Source: HKSAR Government Press Releases

2026 Maker in China SME Innovation and Entrepreneurship Global Contest - Hong Kong Chapter successfully held Source: HKSAR Government Press Releases