FRIDAY, MAY 21, 1993
1
CONSUMER PRICE INDICES FOR APRIL
* * * * * *
LATEST FIGURES RELEASED BY THE CENSUS AND STATISTICS DEPARTMENT SHOWED THAT CONSUMER PRICE INFLATION CONTINUED TO MODERATE IN APRIL.
THE CONSUMER PRICE INDEX (A) WAS 7.7% HIGHER IN APRIL 1993 THAN IN THE SAME MONTH LAST YEAR.
IN
THIS WAS SLIGHTLY LOWER THAN THE CORRESPONDING INCREASE OF 7.8% MARCH THIS YEAR, WHICH ALREADY REPRESENTED A MODERATION FROM THE INCREASES OF 10.1% IN JANUARY AND 8.6% IN FEBRUARY.
THE FINANCIAL SECRETARY, MR HAMISH MACLEOD, WAS PLEASED WITH THE LATEST CPI FIGURES.
"WITH THE INCREASE IN THE CPI(A) AVERAGING AT 8.5% FOR THE FIRST FOUR MONTHS THIS YEAR, IT DOES SUGGEST THAT OUR FORECAST OF A SINGLE-DIGIT INFLATION RATE FOR THE YEAR AS A WHOLE IS REALISTIC, HE
SAID.
..
THE CONTINUED MODERATION IN APRIL WAS MAINLY DUE TO LESS RAPID INCREASES IN RENT AND IN THE CHARGES FOR MEALS AT RESTAURANTS AS WELL AS LOWER PRICES OF FRESH VEGETABLES. THESE HAD MORE THAN OFFSET EFFECT OF INCREASE IN BUS FARES IN APRIL.
THE CPI(B) AND THE HANG SENG CPI WERE HIGHER BY 8.5% AND RESPECTIVELY IN APRIL THAN IN THE SAME MONTH LAST YEAR. CORRESPONDING INCREASES IN MARCH WERE 8.5% AND 9.2%.
THE
9.5% THE
THE SLIGHTLY FASTER INCREASE IN THE HANG SENG CPI IN APRIL THAN IN MARCH WAS MAINLY DUE TO HIGHER PRICES OF CLOTHING AND INCREASE IN BUS FARES, NOTWITHSTANDING THE LESS RAPID INCREASE IN THE CHARGES OF RESTAURANT MEALS AND THE LOWER VEGETABLE PRICES.
THE COMPOSITE CPI, WHICH WAS COMPILED BASED ON THE COMBINED EXPENDITURE PATTERN OF HOUSEHOLDS COVERED BY THE THREE CPIS, SHOWED AN INCREASE OF 8.5% IN APRIL OVER THE SAME MONTH LAST YEAR. CORRESPONDING INCREASE IN MARCH WAS 8.4%.
THE
COMPARING APRIL 1993 WITH APRIL 1992, RELATIVELY SLOWER INCREASES IN PRICES WERE RECORDED FOR FOOD (EXCLUDING MEALS AT RESTAURANTS) (0.8% IN THE CPI (A) AND 1.5% IN THE CPI(B)); DURABLE GOODS (1.8% AND 1.9%); FUEL AND LIGHT (3.2% AND 3.1%); AND MISCELLANEOUS GOODS (6.5% AND 6.0%).
AS FOR TRANSPORT, AND CLOTHING AND FOOTWEAR, THEIR CORRESPONDING INCREASES WERE 8.5% AND 8.0% IN THE CPI(A) AND 8.0% AND 8.3% IN THE CPI (B).
ON THE OTHER HAND, RELATIVELY FASTER INCREASES IN PRICES WERE RECORDED FOR HOUSING (13.2% IN THE CPI(A) AND 14.4% IN THE CPI (B)); SERVICES (10.1% AND 8.9%); ALCOHOLIC DRINKS AND TOBACCO (9.7% AND 9.1%); AND MEALS AT RESTAURANTS (9.0% IN BOTH CPI(A) AND INCREASES WERE NEVERTHELESS GENERALLY SLOWER IN APRIL
THESE MARCH.
CPI (B)). THAN
IN
/COMPARING APRIL