1
TUESDAY, APRIL 28, 1992
CONSUMER PRICE INDICES FOR MARCH
A
THE INFLATION RATE FOR MARCH THIS YEAR DROPPED SIGNIFICANTLY TO SINGLE DIGIT FIGURE OF 9.5% IN TERMS OF THE CONSUMER PRICE INDEX
(A).
THIS COMPARES WITH 10.4% RECORDED FOR FEBRUARY.
THE
CPI(B) AND THE HANG SENG CPI IN MARCH 1992 WERE HIGHER BY 9.7% AND 10.1% RESPECTIVELY THAN IN MARCH LAST YEAR.
THEIR CORRESPONDING INCREASES IN FEBRUARY WERE 10.1% AND 9.8%.
THE COMPOSITE CPI, WHICH WAS COMPILED BASED ON THE COMBINED EXPENDITURE PATTERN OF HOUSEHOLDS COVERED BY THE THREE CPIS, SHOWED AN INCREASE OF 9.7% IN MARCH 1992 OVER THE SAME MONTH IN 1991.
THE CORRESPONDING INCREASE IN FEBRUARY WAS 10.1%.
THE FINANCIAL SECRETARY WELCOMED THE LATEST CPI FIGURES, NOTING THAT ALTHOUGH THE ANNUAL RATE OF INFLATION AT THE CONSUMER LEVEL WAS STILL HIGH, IT HAD DECLINED SIGNIFICANTLY FROM THE PEAK OF 13.9% IN APRIL 1991.
ACCORDING TO THE FIGURES RELEASED TODAY (TUESDAY) BY THE CENSUS AND STATISTICS DEPARTMENT, THE SIGNIFICANT MODERATION IN THE YEAR-ON- YEAR RATES OF INCREASE IN THE CPI(A) AND CPI(B) IN MARCH 1992 WAS LARGELY DUE TO LOWER PRICES OF FRESH FRUIT AND A SLOWER INCREASE IN CHARGES FOR MEALS AT RESTAURANTS .
IN ADDITION, THE RELATIVELY HIGH BASE OF COMPARISON 1991 WAS ALSO AN IMPORTANT CONTRIBUTING FACTOR.
IN
MARCH
THE YEAR-ON-YEAR RATE OF INCREASE IN THE HANG SENG СРІ WAS, HOWEVER, HIGHER JN MARCH 1992.
THIS WAS LARGELY ATTRIBUTABLE TO INCREASES IN RENTALS FOR PRIVATE HOUSING AND IN THE PRICES OF FRESH VEGETABLES AND
OUTERCLOTHING.
FURTHERMORE, THE EFFECT OF SLOWER PRICE INCREASES IN OTHER ITEMS ON THE HANG SENG CPI WAS LESS SIGNIFICANT THAN ON THE CPI(A) AND CPI (B).
IN
COMPARING MARCH 1992 WITH MARCH 1991, THE PRICES OF ALCOHOLIC DRINKS AND TOBACCO REGISTERED DECREASES (-5.3% IN CPI(A) AND -1.8% CPI (B)),
RELATIVELY SLOWER INCREASES IN PRICES WERE RECORDED FOR FUEL AND LIGHT (3.1% AND 3.0%); DURABLE GOODS (4.1% AND 4.3%); MISCELLANEOUS GOODS (7.6% AND 7.0%); CLOTHING AND FOOTWEAR (7.9% AND 7.8%); AND FOOD (EXCLUDING RESTAURANT MEALS) (9.3% AND 8.8%).
/ON THE