Hong Kong's July Consumer Price Index (CPI) increased by 1% year-on-year.

The Census and Statistics Department of the Hong Kong SAR Government (the Department) announced today (21st August) the Consumer Price Index (CPI) for July 2025. According to the Composite CPI, the overall consumer prices in July 2025 increased by 1.0% compared to the same period last year, which is lower than the corresponding increase in June 2025 (1.4%). The lower increase in July 2025 is mainly due to a narrower increase in the cost of district cooling tariffs compared to the same period last year, as there was no such increase in June last year and July this year. Excluding the impact of all one-off relief measures implemented by the government, the year-on-year increase in the Composite CPI in July 2025 (i.e. the underlying inflation rate) is 1.0%, the same as the corresponding increase in June 2025. The seasonally adjusted Composite CPI showed an average monthly change rate of 0.2% for the three months ending in July 2025, compared to 0.0% for the three months ending in June 2025. Excluding the impact of all one-off relief measures implemented by the government, the corresponding change rates were both at 0.1%. Analysis of the sub-indices shows that the Consumer Price Indices for Categories A, B, and C increased by 1.5%, 0.9%, and 0.6% respectively in July 2025 compared to the same period last year, while the corresponding increases in June 2025 were 2.1%, 1.3%, and 0.9%. Excluding the impact of all one-off relief measures implemented by the government, the year-on-year increases for Categories A, B, and C were 1.4%, 0.9%, and 0.6% respectively in July 2025, compared to 1.5%, 0.9%, and 0.7% in June 2025. The seasonally adjusted Consumer Price Indices for Categories A, B, and C showed average monthly change rates of 0.4%, 0.2%, and 0.1% respectively for the three months ending in July 2025, compared to 0.0% for the three months ending in June 2025. Excluding the impact of all one-off relief measures implemented by the government, the average monthly change rates for the seasonally adjusted Consumer Price Indices for Categories A, B, and C were 0.1%, 0.1%, and 0.0% respectively for the three months ending in July 2025, compared to 0.2%, 0.1%, and 0.0% for the three months ending in June 2025. Among the components of the Composite CPI in July 2025, the categories that recorded year-on-year increases in prices were Housing (up 1.8%), Tobacco and Liquor (up 1.7%), Transport (up 1.4%), Eating out and Takeaways (up 1.3%), Miscellaneous Services (up 1.0%), Electricity, Gas, and Water (up 0.7%), and Miscellaneous Items (up 0.3%). On the other hand, the categories that recorded year-on-year decreases in prices in terms of the Composite CPI in July 2025 were Clothing and Footwear (down 3.3%), Durable Goods (down 2.3%), and Basic Foods (down 0.1%). For the first seven months of 2025 combined, the Composite CPI increased by 1.6% compared to the same period last year, with corresponding increases of 2.2%, 1.4%, and 1.1% for Categories A, B, and C. Excluding the impact of all one-off relief measures implemented by the government, the respective increases were 1.2%, 1.5%, 1.0%, and 0.9%. For the three months ending in July 2025 compared to the same period last year, the Composite CPI increased by 1.5%, with Category A, B, and C Consumer Price Indices increasing by 2.1%, 1.3%, and 0.9% respectively. Excluding the impact of all one-off relief measures implemented by the government, the respective increases were 1.0%, 1.4%, 0.9%, and 0.7%. For the twelve months ending in July 2025 compared to the same period last year, the Composite CPI increased by an average of 1.7%, with corresponding increases of 2.2%, 1.5%, and 1.3% for Categories A, B, and C. Excluding the impact of all one-off relief measures implemented by the government, the respective increases were 1.2%, 1.4%, 1.1%, and 1.0%. A spokesperson for the Hong Kong SAR Government stated that consumer price inflation in July remained mild. The Composite CPI increased by 1.0% year-on-year, the same as the previous month. The price pressures of the main components are generally under control.