XN000022-1992-01-27 — Page 2

1

MONDAY, JANUARY 27, 1992

CONSUMER PRICE INDEXES FOR DECEMBER 1991

THE RATE OF INCREASE IN THE CONSUMER PRICE INDEX (A) FOR DECEMBER LAST YEAR WAS THE LOWEST RECORDED IN THE ENTIRE YEAR, AND WAS 3.6 PERCENTAGE POINTS DOWN FROM THE PEAK FIGURE OF 13.9% IN APRIL.

THE RATE OF INCREASE IN THE CONSUMER PRICE INDEX (B) FOR DECEMBER 1991 WAS ALSO THE LOWEST RECORDED IN 1991, AND WAS 2.6 PERCENTAGE POINTS DOWN FROM THE PEAK FIGURE OF 13.0% IN APRIL.

ACCORDING TO THE FIGURES RELEASED BY THE CENSUS AND STATISTICS DEPARTMENT TODAY (MONDAY), THE CPI(A) FOR DECEMBER LAST YEAR WAS 10.3% HIGHER THAN THAT FOR DECEMBER 1990, AND THE CPI(B) WAS 10.4% HIGHER.

THE FINANCIAL SECRETARY, MR HAMISH MACLEOD, COMMENTED THAT THE CONTINUED DOWNWARD TREND IN INFLATION FROM 13.9% TO 10.3% WAS VERY WELCOMED.

FOR 1991 AS A WHOLE, THE AVERAGE CPI(A) AND AVERAGE CPI(B) WERE 12.0% AND 11.6% RESPECTIVELY HIGHER THAN THOSE IN 1990.

FOR DECEMBER 1991, THE 1984/85-BASED HANG SENG CPI WAS 10.1% HIGHER THAN THAT FOR DECEMBER 1990. FOR 1991 AS A WHOLE, THE AVERAGE HANG SENG CPI ROSE BY 11.1% COMPARED WITH THAT IN 1990.

THE CONTINUED SLOWDOWN IN THE YEAR-ON-YEAR RATES OF INCREASE IN CPI(A) AND CPI(B) FOR DECEMBER WAS MAINLY DUE TO A FURTHER MODERATION OF THE INCREASE IN FOOD PRICES.

WHILE THE PRICES OF FRESH VEGETABLES DECREASED FURTHER IN DECEMBER 1991 OVER THE SAME MONTH IN 1990, CHARGES FOR MEALS AT RESTAURANTS AND THE PRICES OF LIVE POULTRY AND FRESH FRUIT ALSO SHOWED MORE MODERATE INCREASES OVER THE SAME PERIOD.

MOREOVER, THE PRICES OF OIL PRODUCTS AND THE CHARGES FOR SOME TRANSPORT SERVICES, WHICH WERE RAISED NEAR THE END OF 1990, REMAINED STABLE IN DECEMBER 1991.

COMPARED WITH A YEAR EARLIER, THE FUEL AND LIGHT COMPONENT IN THE CPI(A) RECORDED A DECREASE OF 2.3% FOR DECEMBER 1991.

AS REGARDS THE OTHER MAJOR COMPONENTS IN CPI(A), INCREASES BELOW THE OVERALL AVERAGE WERE RECORDED IN THE DURABLE GOODS COMPONENT (3.3%); FOLLOWED BY CLOTHING AND FOOTWEAR (7.1%); MISCELLANEOUS GOODS (7.6%); FOOD (EXCLUDING MEALS AT RESTAURANTS) (8.9%); AND HOUSING (10.0%).

ON THE OTHER HAND, INCREASES FASTER THAN THE OVERALL AVERAGE WERE RECORDED IN TRANSPORT AND VEHICLES (10.4%); MEALS AT RESTAURANTS SERVICES (13.4%); AND ALCOHOLIC DRINKS AND TOBACCO FOR HOME (11.5%); CONSUMPTION (37.4%).

/THE 1989