XN000022-1974-04-01 — Page 6

MONDAY, APRIL 1, 1974.

NEW CONSUMER PRICE INDEX IN THE OFFING

*******

RAPID PROGRESS HAS BEEN MADE IN THE COMPILATION OF A NEW CONSUMER PRICE INDEX THE BAROMETER OF HONG KONG'S COST OF

LIVING.

THE REVISION OF THE CURRENT INDEX, WHICH IS BEING UNDERTAKEN

BY THE ECONOMIC STATISTICS DIVISION OF THE CENSUS AND STATISTICS

DEPARTMENT, IS AIMED AT INCREASING THE ACCURACY OF THE INDEX SO AS

TO BETTER REFLECT CURRENT CONDITIONS.

A HOUSEHOLD EXPENDITURE SURVEY WHICH IS DESIGNED TO COLLECT

· UP-TO-DATE INFORMATION ON HONG KONG'S AVERAGE HOUSEHOLD SPENDING PATTERN, BUYING HABITS AND OTHER RELATED MATTERS 10 PAVE THE WAY FOR THE CONSTRUCTION OF A NEW CONSUMER PRICE INDEX WAS FORMALLY

LAUNCHED LAST JULY AND SHOULD BE COMPLETED BY JUNE THIS YEAR.

IT IS ENVISAGED THAT THE NEW INDEX WILL BE INTRODUCED AROUND

OCTOBER THIS YEAR.

EXPLAINING THE REASONS FOR THE HAJOR REVISION, A SPOKESMAN

FOR THE CENSUS AND STATISTICS DEPARTMENT POINTED OUT THAT WHILE THE EXISTING CONSUMER PRICE INDEX WAS BY NO MEANS COMPLETELY OUT

/OF TOUCH