XN000022-1978-11-27 — Page 2

1

MONDAY, NOVEMBER 27, 1978

HIGHER COST OF LIVING IN OCTOBER

*****

THE CONSUMER PRICE INDEXES A AND B FOR LAST MONTH (OCTOBER) WERE BOTH 129, UP THREE POINTS AND TWO POINTS RESPECTIVELY COMPARED WITH THE PREVIOUS MONTH.

THE INDEX FOR FOODSTUFFS ADVANCED BY FIVE POINTS IN C.P.I. (A) AND BY FOUR POINTS IN C.P.I. (B).

THE HOISTING OF TROPICAL CYCLONE WARNING SIGNALS THREE TIMES DURING THE MONTH CAUSED THE AVERAGE RETAIL PRICES OF SALT-WATER FISH, FRESH-WATER FISH AND FRESH VEGETABLES TO GO

UP.

AS SOME RESTAURANTS AND EATING-PLACES RAISED THEIR PRICES, THE AVERAGE CHARGES FOR MEALS BOUGHT AWAY FROM HOME ALSO WENT UP. HOWEVER, MOVEMENTS IN RETAIL PRICES OF OTHER FOOD ITEMS WERE INSIGNIFICANT.

THE INDEX FOR ALCOHOLIC DRINKS AND TOBACCO INCREASED BY FOUR POINTS AND THAT FOR DURABLE GOODS, BY TWO POINTS IN BOTH C.P.I. (A) AND (B) BECAUSE OF HIGHER PRICES FOR CIGARETTES AND FOR ELECTRICAL APPLIANCES, CAMERAS AND OPTICAL GOODS.

A RISE OF ONE POINT WAS RECORDED IN THE INDEX FOR CLOTHING AND FOOTWEAR IN BOTH C.P.I. (A) AND (B) DUE TO HIGHER PRICES FOR SOME ITEMS OF MEN'S AND WOMEN'S UNDERCLOTHING. THE INDEXES FOR MISCELLANEOUS GOODS AND FOR TRANSPORT AND VEHICLES EACH WENT UP BY ONE POINT IN C.P.I. (B) BECAUSE OF HIGHER PRICES FOR MEDICINES AND HIGHER CHARGES FOR PUBLIC LIGHT BUS FARES.

ON THE OTHER HAND, THE INTRODUCTION OF THE FREE EDUCATION SCHEME FOR FORMS 1 TO 3 STUDENTS BROUGHT THE INDEX FOR SCHOOL FEES DOWN. AS A RESULT, THE INDEX FOR SERVICES DECREASED BY ONE POINT IN C.P.I. (A).

PRICE MOVEMENTS IN OTHER COMMODITY SECTIONS WERE INSIGNIFICANT.

THE C.P.I. (A) IS BASED ON WEIGHTS DERIVED FROM HOUSEHOLD SPENDING BETWEEN $400 - $1,499 A MONTH AND THE C.P.1. (B), BETWEEN $1,500 - $2,999 A MONTH IN THE HOUSEHOLD EXPENDITURE SURVEY IN 1973/74.

/THE SECTION.....