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Thursday, February 8, 1973
NEW CONSUMER PRICE INDEX
Household Survey To Pave Way
A new Consumer Price Index which can better reflect the current
cost of living in Hong Kong will be compiled by the Census and Statistics
Department.
In order to revise and improve the present Index, a spokesman for
the department said, a new Household Expenditure Survey had already started
early last month.
The findings of the survey would enable the department to work out
the new Index.
He pointed out that the existing Consumer Price Index, comprising
the General C.P.I. and the Modified C.P.I., was based on a survey conducted
ten years ago.
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Since then, the spokesman said, a great deal of changes had taken
place in the life pattern and living condition of the population.
"There have been changes in the variety of consumer goods available
and in consumer preferences which now have a definite influence on the
pattern of consumer expenditure.
"Consumer expenditure on food items is taking on a different
picture over the years, " he explained.
"Consumption of rice has shown a steady decline while that of
other food items has increased.
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