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8.
Within the local economy, consumption
expenditure remained strong, supported by
increases in real incomes over the past couple
of years. As an indication, retained imports of
foodstuffs and of consumer goods grew by about
17% and 7% respectively in real terms in the
first quarter compared with a year earlier.
Reflecting the continued high level of
investment in plant and equipment, retained
imports of capital goods grew by about 17% in
real terms over the same period.
1
9.
On inflation, the Consumer Price Index
(A) recorded a year-on-year rate of increase of
9.8% in the first quarter, compared with 7.9% in
the fourth quarter of last year. The
corresponding rates of increase for the CPI(B)
and the Hang Seng CPI in the first quarter were
9.4% and 10.7%. Increases in the retail prices
of foodstuffs and in charges for -services
accounted for a major part of the overall
increase in consumer prices.