The Hong Kong Census and Statistics Department announced on the 23rd that according to the Composite Consumer Price Index, the overall consumer prices in May 2026 increased by 2% year-on-year, higher than the 1.7% in April 2026. Excluding the impact of all one-time government relief measures, the basic inflation rate is 1.9%, higher than 1.6% in April.
The inflation rate expanded in May, mainly due to the accelerated increase in transportation and package tourism expenses for entering and leaving Hong Kong, as well as the rise in medical and health service fees.
Among various consumption items, electricity, gas, and water increased by 6.6%, transportation increased by 5.1%, miscellaneous services increased by 5.1%, miscellaneous items increased by 2.9%, tobacco and alcohol increased by 2.5%, housing increased by 1.1%, clothing and footwear increased by 1%, dining out and takeaway increased by 0.8%, and basic food increased by 0.4%. On the other hand, durable goods decreased by 1.2%.
A spokesperson for the Hong Kong SAR government stated that the prices of fuel related projects continue to rise at an accelerated pace, while the price pressure on other major components remains largely under control.
The spokesperson said that although the recent easing of geopolitical tensions in the Middle East has led to a decline in international oil prices, the impact of the previous sharp rise in oil prices will continue to be transmitted to fuel related items in consumer prices in the coming months. The price pressure in other aspects is generally stable, which should help maintain overall inflation at a moderate level. (Looking into the New Era)