Hong Kong’s annual inflation rate rose to 1.9% in September 2026 from 1.7% in August, above market expectations of 1.8%. This marked the highest reading in three months, as inflation accelerated for transport (5.3% vs 4.0% in August), recreation, sport and culture (7.3% vs 5.6%), education services (4.5% vs 4.0%), and housing (1.0% vs 0.9%). Price growth also accelerated for information and communication, reaching 1.3% from 0.4%, while health inflation remained elevated despite easing to 10.5% from 11.2%. Meanwhile, food and non-alcoholic beverage prices fell 0.3%, following a 0.2% decline in August. Inflation also eased for household furnishings (1.2% vs 1.4%), personal care (1.7% vs 2.2%), and restaurants and accommodation services (1.0% vs 1.1%). On a monthly basis, consumer prices rose 0.3%, following a 0.1% increase in August. The underlying Composite CPI, which excludes the effects of all one-off government relief measures, rose 2.1% year-on-year, up from 1.9% in August.