30 -
Commenting on the CPI figures, a Government spokesman said that the accelerated increase in the CPI(A) in September was mainly due to a surge in the prices of vegetables amidst the adverse weather conditions during the month. On the other hand, there were less rapid increases in housing rentals and in the prices of various consumer services as compared with the preceding month.
Analysing the price increases by components against the overall increase, those components recording faster increases than average for September 1995 over a year earlier were housing (11.8% in the CPI(A), 13.1% in the CPI(B) and 13.0% in the Composite CPI); miscellaneous services (10.6%, 9.7% and 9.3%); food (excluding meals bought away from home) (9.1%, 8.9% and 9.0%); and miscellaneous goods (9.0%, 7.8% and 8.1%).
On the other hand, those components recording slower price increases than average were clothing and footwear (4.8% in the CPI(A), 5.4% in the CPI(B) and 8.0% in the Composite CPI); durable goods (4.9%, 4.9% and 5.0%); fuel and light (6.6%, 6.7% and 6.4%); transport (7.1%, 7.3% and 7.0%); alcoholic drinks and tobacco (7.2%, 7.0% and 7.1%); and meals bought away from home (7.2%, 7.0% and 6.9%).
Comparing September 1995 with August 1995, the CPI(A) and CPI(B) increased by 1.0% and 0.9% respectively. The corresponding increase for the Composite CPI was 1.0%.
Taking the first nine months together, the increase in the CPI(A) and CPI(B) averaged at 9.1% and 9.6% respectively over a year earlier. The corresponding increase for the Composite CPI was 9.5%.
For the three months ended September 1995, the CPI(A) and CPI(B) were, on average, higher by 8.6% and 9.1% respectively over a year earlier. The corresponding increase for the Composite CPI was 9.1%.
For the 12 months ended September 1995, the CPI(A) and CPI(B) were, on average, higher by 8.9% and 9.5% respectively than in the preceding 12-month period. The corresponding increase for the Composite CPI was 9.4%.
Seasonally adjusted series are also available for the CPIs. The deseasonalised CPI(A) and CPI(B) increased at an average rate of 0.7% and 0.6% per month during the three months ended September 1995. The corresponding increase for the Composite CPI was 0.7%.