HONG KONG – Overall consumer prices in Hong Kong rose 1.7 percent year-on-year in February, a larger increase than the 1.1 percent year-to-year rise recorded in the previous month, according to the Census and Statistics Department.

Netting out the effects of the special administrative region government’s one-off relief measures, the underlying inflation rate was 1.6 percent last month, which is also larger than that logged in the previous month.

Attributing the increase mainly to higher charges for package tours and inbound and outbound transport fares during the Chinese New Year, a government spokesman said the different timing of the festival – falling in January 2025 – also resulted in a lower base of comparison for the same month last year.

Compared with January last year, year-on-year increases in prices were recorded in the following categories: miscellaneous services; transport; electricity, gas and water; miscellaneous goods; alcoholic drinks and tobacco; housing; meals out and takeaway food; and basic food.

Year-on-year decreases were logged for clothing and footwear as well as durable goods.

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Consumer price inflation stayed modest in early 2026, with price pressures on various major components remaining broadly in check.

Taking January and February together to remove the distortions caused by the different timing of the Chinese New Year in 2025 and 2026, the underlying composite consumer price index rose 1.3 percent from a year earlier, slightly higher than the 1.2 percent increase recorded in December, according to the government spokesman.

As international oil prices have surged since the end of February amid heightened geopolitical tensions, import price pressures for specific fuel-related items have risen, said the spokesman.

The SAR government said it is monitoring external developments closely and stands ready to respond as appropriate to safeguard price stability.