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Consumer Price Indices for March 1997
Consumer price inflation moderated in March.
The year-on-year rate of increase in the Consumer Price Index (A) was 5.7% in March 1997, significantly slower than that of 6.5% in February.
The year-on-year rate of increase in the Consumer Price Index (B), at 5.8% in March 1997, was also slower than that of 6.1% in February. The corresponding rate of increase in the Hang Seng CPI, at 6.3% in March 1997, was however slightly faster than that of 6.2% in February.
The Composite CPI, which is compiled based on the combined expenditure pattern of all households, showed a year-on-year increase of 5.9% in March 1997, slower than that of 6.3% in February.
The Census and Statistics Department released today (Tuesday) the Consumer Price Index (CPI) figures for March 1997.
A Government spokesman said that the slower year-on-year increases in the CPI(A) and CPI(B) in March than in February were mainly because of year-on-year declines in the prices of some fresh food items and slower increase in the charges of meals bought away from home.
As for the Hang Seng CPI, the faster increase in March 1997 than in February was mainly because of faster increase in the prices of outerclothing.
Analysed by component, faster year-on-year increases than the overall average in March were recorded for clothing and footwear (11.5% in CPI(A) and 11.6% in Composite CPI); miscellaneous goods (10.5% in CPI(A) and 7.7% in Composite CPI); housing (9.2% in CPI(A) and 8.7% in Composite CPI); fuel and light (7.2% in CPI(A) and 7.3% in Composite CPI); alcoholic drinks and tobacco (6.5% in CPI(A) and 6.3% in Composite CPI) and miscellaneous services (6.4% in CPI(A) and 6.1% in Composite CPI).
Meanwhile, those components with slower year-on-year increases in prices than the overall average were durable goods (2.9% in both CPI(A) and Composite CPI); meals bought away from home (3.7% in CPI(A) and 3.6% in Composite CPI) and transport (4.6% in CPI(A) and 4.1% in Composite CPI). Food (excluding meals bought away from home) recorded a price decline of 0.2% in CPI(A) for March 1997 over March 1996 and remained unchanged in Composite CPI.