The annual inflation rate in Hong Kong stood at 1.7% in April 2026, unchanged from the previous two months and remaining at its highest reading since May last year. Price growth mainly picked up for electricity, gas and water (5.5% vs 3.9% in March) and transport (4.3% vs 3.9%). The government spokesman noted that, as global oil prices remain elevated, the pass-through to fuel-related components of consumer prices is expected to persist. Yet price pressures from other fronts remained generally contained, reflected in easing inflation for food (0.7% vs 0.9%), miscellaneous goods (2.6% vs 2.8%), and services (4.5% vs 4.6%), while costs continued to decline for clothing and footwear (-0.3% vs -0.7%) and durable goods (-1.9% vs -2.2%). On a monthly basis, consumer prices fell 0.1%, the first decline since May last year and following a flat reading in the prior period. Excluding the government’s one-off relief measures, underlying annual inflation came in at 1.6%, unchanged from March.