- 13.
The rate of increase in the Consumer Price Index (B), at 9.5% in December, was the same as that in November.
As to the Hang Seng CPI, the increase decelerated from 10.6% in November to 10.3% in December.
The slower increase in the Hang Seng CPI in December than in November was mainly due to a moderation in charges of meals bought away from home and in private housing rentals, which more than offset the effect of higher vegetable prices. The rates of increase in the prices of other components of the CPI(A) remained broadly similar to those recorded in November.
For 1994 as a whole, the rate of increase in the CPI(A) averaged at 8.1%. This was lower than the increase of 8.5% recorded in 1993.
The Composite CPI, which is compiled based on the combined expenditure pattern of households covered by the three CPIs. showed an increase of 9.5% in December 1994 over the same month in 1993. This was the same as the corresponding increase in November.
Comparing December 1994 with December 1993, relatively faster price increases than the overall average were recorded for housing (12.3% in the CPI(A) and 14.1% in the CPI(B)); miscellaneous services (12.6% and 11.8%); and clothing and footwear (9.7% and 10.1%).
On the other hand, relatively slower price increases than the overall average were recorded for durable goods (2.5% in the CPI(A) and 2.8% in the CPI(B)); alcoholic drinks and tobacco (4.7% and 5.3%); fuel and light (5.4% and 5.5%); food (excluding meals bought away from home) (7.5% and 7.0%); transport (7.5% and 7.0%); meals bought away from home (7.6% and 7.4%); and miscellaneous goods (8.4% and 7.3%).
Comparing December 1994 with November 1994, the CPI(A) and CPI(B) increased by 1.0% and 0.7% respectively. The corresponding increase for the Composite CPI was 0.8%.
In the fourth quarter of 1994, the CPI(A) and CPI(B) were, on average, higher by 8.5% and 9.3% respectively over a year earlier. The corresponding increase for the Composite CPI was 9.3%.
For 1994 as a whole. the CPI(A) and CPI(B) were, on average. higher by 8.1% and 8.6% respectively than in 1993. The corresponding increases for the Hang Seng CPI and Composite CPI were 10.0% and 8.8%.