FRIDAY, JUNE 26, 1992
1.
CONSUMER PRICE INDICES FOR MAY
CONSUMER PRICE INFLATION CONTINUED ΤΟ MODERATE LAST MONTH, ACCORDING TO FIGURES RELEASED TODAY (FRIDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.
THE CONSUMER PRICE INDEX (A) WAS 8.8% HIGHER THAN IN MAY YEAR. THIS COMPARED WITH A SLIGHTLY HIGHER FIGURE OF 8.9% IN PRECEDING MONTH, AND THE PEAK FIGURE OF 13.9% IN APRIL LAST YEAR.
THE CPI(B) AND THE HANG SENG CPI SHOWED A SIMILAR TREND. MAY 1992, THEY WERE HIGHER BY 9.0% AND 9.5% RESPECTIVELY THAN IN LAST YEAR.
LAST
THE
IN
MAY
THE CORRESPONDING INCREASES IN THE PRECEDING MONTH WERE 9.2% AND 9.7%.
THE COMPOSITE CPI, WHICH WAS COMPILED BASED ON THE COMBINED EXPENDITURE PATTERN OF HOUSEHOLDS COVERED BY THE THREE CPIS, SHOWED AN INCREASE OF 9.1% IN MAY 1992 OVER THE SAME MONTH IN 1991.
THE CORRESPONDING INCREASE IN THE PRECEDING MONTH WAS 9.2%.
THE
FINANCIAL SECRETARY, MR HAMISH MACLEOD,
WELCOMED
THE
CONTINUING DOWNWARD TREND IN THE INFLATION FIGURES.
DUE
THE LESS RAPID INCREASE IN THE CPIS IN MAY 1992 WAS MAINLY TO THE PRICES OF FRESH VEGETABLES, WHICH SHOWED A MUCH SLOWER YEAR-ON- YEAR RATE OF INCREASE.
COMPARING MAY 1992 WITH MAY 1991, THE .PRICES OF ALCOHOLIC DRINKS AND TOBACCO REGISTERED A DECREASE OF 0.8% IN THE CPI(A) AND INCREASE OF 2.0% IN THE CPI(B).
AN
RELATIVELY SLOWER INCREASES IN PRICES WERE RECORDED FOR DURABLE GOODS (2.2% IN THE CPI(A) AND 2.3% IN THE CPI(B)); TRANSPORT (5.8% AND 6.0%); FUEL AND LIGHT (6.3% AND 5.9%); MISCELLANEOUS GOODS (7.0% AND 6.5%); FOOD (EXCLUDING MEALS AT RESTAURANT) (7.4% AND 7.1%); CLOTHING AND FOOTWEAR (8.2% AND 8.0%).
AND
WERE
ON THE OTHER HAND, RELATIVELY FASTER INCREASES IN PRICES RECORDED FOR MEALS AT RESTAURANTS (10.7% IN THE CPI(A) AND 10.6% IN THE CPI(B)); HOUSING (11.5% AND 11.8%); AND SERVICES (12.1% AND 11.5%).
COMPARING MAY 1992 WITH APRIL 1992, THE CPI(A) SHOWED LITTLE CHANGE, WHILE THE CPI(B) AND THE HANG SENG CPI INCREASED BY 0.3% AND 1.1% RESPECTIVELY.
THIS COMPARISON WAS, HOWEVER, AFFECTED BY SEASONAL FACTORS. THE RISE WAS LARGELY DUE TO HIGHER RENTS FOR SOME PRIVATE HOUSING UNITS, HIGHER CHARGES FOR MEALS AT RESTAURANTS, AND HIGHER MTR, KCR AND LRT FARES.
/THE EFFECT