XN000022-1977-01-22 — Page 4

SATURDAY, JANUARY 22, 1977

NEW CONSUMER PRICE INDEXES DROPPED

****

BOTH INDEXES A AND B OF THE NEW CONSUMER PRICE INDEX FOR LAST MONTH (DECEMBER, 1976) DROPPED BY ONE POINT COMPARED WITH THE PREVIOUS MONTH.

THE NEW CONSUMER PRICE INDEX A, BASED ON WEIGHTS DERIVED FROM HOUSEHOLD EXPENDITURE BETWEEN $400 AND $1,499 A MONTH IN THE HOUSEHOLD EXPENDITURE SURVEY 1973-74, WAS 112.

THE INDEX FOR FOODSTUFFS FELL BY THREE POINTS, MAINLY BECAUSE OF A SUBSTANTIAL DROP IN THE AVERAGE RETAIL PRICE OF FRESH VEGETABLES. SALT WATER FISH PRICES WERE LOWER WHILE THE AVERAGE RETAIL PRICES OF FRESH WATER FISH AND PORK ROSE.

THE INDEX FOR HOUSING ROSE BY FOUR POINTS, FOLLOWING INCREASES IN THE RENTS OF PRIVATE DWELLINGS, HOUSING AUTHORITY'S GROUP B ESTATES AND FORMER GOVERNMENT LOW COST HOUSING ESTATES.

INCREASES OF ONE POINT EACH WERE ALSO RECORDED IN THE INDEX FOR CLOTHING AND FOOTWEAR AND THE INDEX FOR MISCELLANEOUS GOODS DUE TO HIGHER PRICES FOR SOME ITEMS OF MAN'S UNDERCLOTHING AND MEDICINES.

MOVEMENTS IN THE INDEXES FOR THE OTHER COMMODITY SECTIONS AND SERVICES WERE INSIGNIFICANT.

THE NEW CONSUMER PRICE INDEX B, REFLECTING HOUSEHOLD SPENDINGS BETWEEN $1,500 AND $2,999 A MONTH IN THE 1973-74 EXPENDITURE SURVEY WAS 113.

THE INDEX FOR FOODSTUFFS ALSO FELL BY THREE POINTS LARGELY BECAUSE OF THE VEGETABLE PRICE MOVEMENTS AND THE INDEX FOR SERVICES DROPPED BY ONE POINT DUE TO REDUCED SCHOOL FEES FOR PUPILS UNDER THE BOUGHT PLACES SCHEME IN BOTH NON-PROF IT-MAKING AND INDEPENDENT PRIVATE SECONDARY SCHOOLS.

THE INDEX FOR HOUSING ROSE BY TWO POINTS AS A RESULT OF INCREASES IN THE RENTS OF THREE CATEGORIES OF DWELLINGS AND THE INDEX FOR MISCELLANEOUS GOODS ADVANCED BY ONE POINT DUE TO A FURTHER RISE IN THE PRICES OF MEDICINES.

MOVEMENTS IN THE INDEXES FOR OTHER COMMODITY SECTIONS WERE SIMILARLY INSIGNIFICANT.

14