MONDAY, MARCH 21, 1994
CONSUMER PRICE INDICES FOR FEBRUARY
THE CONSUMER PRICE INDEX (A) IN FEBRUARY WAS 7.8% HIGHER THAN IN FEBRUARY LAST YEAR, ACCORDING TO FIGURES RELEASED TODAY (MONDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.
THIS WAS HIGHER THAN THE CORRESPONDING INCREASE OF 6.2% IN JANUARY THIS YEAR.
A GOVERNMENT SPOKESMAN SAID THE HIGHER YEAR-ON-YEAR RATE OF INCREASE IN FEBRUARY WAS MAINLY DUE TO HIGHER PRICES OF MOST FRESH FOOD ITEMS, PARTICULARLY FRESH VEGETABLES, FRESH FRUIT AND SALT-WATER FISH, AS WELL AS HIGHER CHARGES FOR HAIRDRESSING AND PACKAGE TOURS AROUND THE LUNAR NEW YEAR PERIOD.
"AS IN THE CASE OF JANUARY THIS YEAR, THE YEAR-ON-YEAR COMPARISON OF THE CPI FIGURES FOR FEBRUARY CONTINUED TO BE DISTORTED BY THE DIFFERENCE IN TIMING OF THE LUNAR NEW YEAR, WHICH TOOK PLACE IN JANUARY LAST YEAR BUT IN FEBRUARY THIS YEAR," THE SPOKESMAN SAID.
TAKING JANUARY AND FEBRUARY TOGETHER, THE CPI(A) ROSE BY 7% OVER A YEAR EARLIER, WHICH WAS CONSIDERABLY LOWER THAN THE AVERAGE INCREASE OF 8.5% RECORDED IN 1993 AND THE FORECAST ALSO OF AN 3.5% INCREASE FOR 1994 AS A WHOLE, HE SAID.
THE CPI(B) AND THE HANG SENG CPI WERE HIGHER BY 8.1% AND RESPECTIVELY IN FEBRUARY 1994 THAN IN FEBRUARY 1993. CORRESPONDING INCREASES IN JANUARY 1994 WERE 6.9% AND 9%.
9.8% THE
THE COMPOSITE CPI, WHICH IS COMPILED BASED ON THE COMBINED EXPENDITURE PATTERN OF HOUSEHOLDS COVERED BY THE THREE CPIS, SHOWED AN INCREASE OF 8.4% IN FEBRUARY 1994 OVER THE SAME MONTH IN 1993. THIS WAS ALSO HIGHER THAN THE CORRESPONDING INCREASE OF 7.2% IN JANUARY 1994.
SLOWER
COMPARING FEBRUARY 1994 WITH FEBRUARY 1993, RELATIVELY PRICE INCREASES THAN THE OVERALL AVERAGE WERE RECORDED FOR DURABLE GOODS (2% IN BOTH CPI(A) AND CPI(B)); FUEL AND LIGHT (2.2% IN THE CPI(A) AND 2.3% IN THE CPI(B)}; FOOD (EXCLUDING MEALS AT RESTAURANTS ) (4.6% AND 4.8%); CLOTHING AND FOOTWEAR 15.6% AND 5.3%); AND MISCELLANEOUS GOODS (6.2% AND 5.2%).
ON
THE OTHER HAND, RELATIVELY FASTER PRICE INCREASES THAN THE OVERALL AVERAGE WERE RECORDED FOR MISCELLANEOUS SERVICES (12.1% IN THE CPI(A) AND 11.6% IN THE CPI(B)); TRANSPORT (10.7% AND 10.1%); AND HOUSING (9.8% AND 10.4%).
AS FOR MEALS AT RESTAURANTS AND ALCOHOLIC DRINKS AND TOBACCO, THEIR CORRESPONDING INCREASES WERE 8.1% AND 8.9% IN THE CPI{A} AND 8.1% AND 8.4% IN THE CPI (B).
COMPARING FEBRUARY 1994 WITH JANUARY 1994, THE CPI(A) AND CPI(B) INCREASED BY 1.9% AND 1.6% RESPECTIVELY. HOWEVER, THIS COMPARISON COULD HAVE BEEN AFFECTED BY SEASONAL FACTORS.
/FOR THE