6
Consumer Price Indices for February 1995
The Consumer Price Index (A) in February 1995 was 8.9% higher than in February 1994, according to figures released today (Tuesday) by the Census and Statistics Department. This was significantly lower than the corresponding increase of 10.1% in January this year.
Commenting on the moderation, a Government spokesman said the prices of vegetables and charges for hair-dressing and package tours had returned to a more normal level in the latter part of February after the seasonal upsurge around the Chinese New Year. Furthermore, the rates of increase in the prices of salt-water fish and pork also slowed down.
The rate of increase in the Consumer Price Index (B) and the Hang Seng CPI also moderated. Their respective rates of increase in February 1995 were 9.6% and 9.7%, compared with the corresponding increases of 10.4% and 10.3% in January.
The Composite CPI, which is compiled based on the combined expenditure pattern of households covered by the three CPIs, showed an increase of 9.4% in February 1995 over the same month in 1994. This was also significantly lower than the corresponding increase of 10.3% in January.
Comparing February 1995 with February 1994, relatively slower price increases than the overall average increase were recorded for durable goods (4.3% in the CPI(A) and 4.5% in the CPI(B)); alcoholic drinks and tobacco (4.4% and 4.9%); food (excluding meals bought away from home) (6.5% and 6.2%); meals bought away from home (7.1% and 6.8%); fuel and light (7.6% and 7.8%); transport (8.3% in both the CPI(A) and CPI(B)); and miscellaneous goods (8.3% in the CPI(A) and 7.2% in the CPI(B)).
On the other hand, relatively faster price increases than the overall average increase were recorded for housing (12.8% in the CPI(A) and 14.4% in the CPI(B)); clothing and footwear (11.7% and 12.8%); and miscellaneous services (11.4% and 10.6%). Comparing February 1995 with January 1995, the CPI(A) and CPI(B) both increased by 0.8%. The corresponding increase for the Composite CPI was 0.7%.
Taking the first two months together, the increases in the CPI(A) and CPI(B) averaged at 9.5% and 10.0% respectively. The corresponding increase for the Composite CPI was 9.8%.