2
MONDAY, NOVEMBER 25, 1974.
NEW CONSUMER PRICE INDEXES
SHOW TWO-POINT INCREASE IN OCTOBER
******
THE FIRST OF THE REVISED CONSUMER PRICE INDEX, WHICH AIMS TO PROVIDE AN UP-TO-DATE REFLECTION OF THE MOVEMENTS OF HONG KONG'S COST OF LIVING, WAS ISSUED TODAY.
THE NEW INDEX IS IN TWO PARTS -- NEW CONSUMER PRICE INDEX (A) WHICH IS BASED ON WEIGHTS DERIVED FROM THE EXPENDITURE OF HOUSEHOLDS SPENDING BETWEEN $400 AND $1,499 A MONTH ACCORDING TO THE HOUSEHOLD SURVEY CONDUCTED BY THE CENSUS AND STATISTICS DEPARTMENT BETWEEN JULY 1973 AND JUNE 1974- AND NEW CONSUMER PRICE INDEX (B) WHICH IS BASED ON WEIGHTS DERIVED FROM THE EXPENDITURE OF HOUSEHOLDS WITH A MONTHLY SPENDING OF BETWEEN $1,500 AND $2,999.
THE NEW CONSUMER PRICE INDEX (A) FOR OCTOBER WAS 108, TWO POINTS HIGHER THAN THAT FOR THE PREVIOUS MONTH.
THE INDEX FOR FOODSTUFFS ADVANCED BY THREE POINTS. AT THE SAME TIME, THE AVERAGE RETAIL PRICES OF SALT WATER AND FRESH WATER FISH AS WELL AS FRESH VEGETABLES INCREASED. THIS WAS MAINLY DUE TO THE TYPHOONS WHICH AFFECTED HONG KONG IN OCTOBER. PRICES OF MEALS BOUGHT AWAY FROM HOME WERE ALSO RAISED.
AS FOR SERVICES, THE INDEX ROSE BY FIVE POINTS. IN FACT, ACCORDING TO A SURVEY RECENTLY CONDUCTED BY THE DEPARTMENT, THERE. WAS AN UPWARD REVISION IN SCHOOL FEES AND PRICES OF TEXTBOOKS AND STATIONERY.
MOVEMENTS IN THE INDEXES FOR OTHER SECTIONS OF COMMODITY WERE INSIGNIFICANT.
THE NEW CONSUMER PRICE (B) FOR THE SAME MONTH ALSO STOOD AT 108, TWO POINTS HIGHER THAN THAT FOR THE PREVIOUS MONTH.
THE INDEX FOR FOODSTUFF ROSE BY TWO POINTS WHILE INCREASES WERE RECORDED IN THE AVERAGE RETAIL PRICES OF SALT WATER AND FRESH WATER FISH AS WELL AS FOR FRESH VEGETABLES AND MEALS BOUGHT AWAY FROM HOME.
THE INDEX FOR SERVICES ADVANCED BY SIX POINTS MAINLY BECAUSE OF THE UPWARD REVISION IN SCHOOL FEES AND PRICES OF TEXTBOOKS AND STATIONERY.
ON THE OTHER HAND, THE INDEX FOR MISCELLANEOUS GOODS DECLINED SLIGHTLY BY ONE POINT WHILE MOVEMENTS IN THE INDEXES FOR OTHER SECTIONS OF COMMODITY WERE INSIGNIFICANT.
PUBLISHED CONCURRENTLY WITH THE NEW SET OF INDEXES TODAY WAS THE OLD GENERAL CONSUMER PRICE INDEX WHICH PUT THE INDEX FOR THE MONTH AT 194, SEVEN POINTS (OR 3.7 PER CENT) HIGHER THAN THAT FOR SEPTEMBER.
THE OLD INDEX WILL CONTINUE TO BE PUBLISHED SIMULTANEOUSLY WITH THE NEW ONES FOR A FURTHER PERIOD OF FIVE MONTHS TO GIVE USERS TIME TO CHANGE OVER.
13