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CONFIDENTIAL
33
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47.
Even in respect of foodstuffs which were
believed to be most influenced by imported inflation from
China, the situation was less serious than many people
have suggested. On the one hand, China's share in Hong
Kong's retained imports of foodstuffs has declined to only
27.3% in the first nine months of 1988 from 30.4% in 1987
and on the other hand, probably because of keen
competition from other sources, the prices of foodstuffs
from China increased at rates only slightly faster than
those from other sources (including both local and
overseas) (31).
(31) Price index of foodstuffs in :
1988
Q1
2
Consumer price
index for Chinese goods
Index (Oct 1984
Sep 1985 = 100)
Year-on-year
rate of increase
(*)
Index
(Oct 1984 Sep 1985
CPI (A)
Year-on-year
rate of increase
(*)
= 100)
104.0
7.6
111.4
8.3
Q2
106.2
8.6
114.6
8.8
Q3
112.2
13.9
119.3
11.2
Q1-3
107.5
10.1
115.1
9.4
July
110.4
17.5
117.3
11.1
Aug
113.1
12.6
119.4
10.6
Sep
113.1
12.0
121.1
12.0
Oct
110.4
9.5
119.9
10.3
CONFIDENTIAL
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