XN000022-1992-07-27 — Page 2

MONDAY, JULY 27, 1992

CONSUMER PRICK INDICES FOR JUNE

THE CONSUMER PRICE INDEX (A) IN JUNE THIS YEAR WAS 9.3% THAN IN JUNE LAST YEAR, ACCORDING TO THE FIGURES RELEASED (MONDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

THE CPI(B) AND THE HANG SENG CPI WERE HIGHER BY 9.6% AND RESPECTIVELY IN JUNE 1992 THAN IN JUNE LAST YEAR.

HIGHER TODAY

10.0%

ALTHOUGH THE YEAR-ON-YEAR RATES OF INCREASE IN THE CPIS IN JUNE WERE SLIGHTLY HIGHER THAN THOSE RECORDED IN MAY, THE UNDERLYING TREND OF INFLATION IS MODERATING; THE SEASONALLY ADJUSTED CPI(A) INCREASED BY 1.9% DURING THE THREE-MONTH PERIOD BETWEEN MARCH AND JUNE OF THIS YEAR, WHICH WAS SUBSTANTIALLY LOWER THAN THAT OF 3.4% BETWEEN DECEMBER

1991 AND MARCH 1992.

THE COMPOSITE CPI, WHICH WAS COMPILED BASED ON THE COMBINED EXPENDITURE PATTERN OF HOUSEHOLDS COVERED BY THE THREE CPIS, SHOWED AN INCREASE OF 9.6% IN JUNE 1992 OVER THE SAME MONTH IN 1991. THE CORRESPONDING INCREASE IN MAY 1992 WAS 9.1%.

1992 FRUIT.

THE HIGHER YEAR-ON-YEAR RATES OF INCREASE IN THE CPIS IN JUNE WERE PARTLY DUE TO FASTER INCREASES IN RENT AND PRICES OF FRESH

JUNE LAST YEAR WAS ALSO A LOWER BASE OP COMPARISON DUR TO THE REDUCTION IN TOBACCO DUTY IN MID-MAY LAST YEAR AND THE REMOVAL OF THE FUEL SURCHARGE FROM TAXI FARES.

COMPARING JUNE 1992 WITH JUNE 1991, RELATIVELY SLOWER INCREASES IN PRICES WERE RECORDED FOR DURABLE GOODS (2.2% IN THE CPI(A) AND 2.5% IN THE CPI(B)); TRANSPORT (6.7% AND 7.0%); FUEL AND LIGHT (7.0% AND 6.7%); FOOD (EXCLUDING MEALS AT

RESTAURANTS } (7.0% AND 7.1%); MISCELLANEOUS GOODS (7.1% AND 6.7%); AND CLOTHING AND FOOTWEAR (8.1% AND 7.8%).

ON THE OTHER HAND, RELATIVELY FASTER INCREASES IN PRICES WERE RECORDED FOR MEALS AT RESTAURANTS (10.7% IN BOTH CPI(A) AND CPI(B)); ALCOHOLIC DRINKS AND TOBACCO (11.2% IN BOTH CPIS); SERVICES (11.9% IN THE CPI(A) AND 11.1% IN THE CPI(B)); AND HOUSING (12.3% AND 13.1%).

COMPARING JUNE WITH MAY 1992, BOTH THE CPI(A) AND THE INCREASED BY 1.0%, WHILE THE HANG SENG CPI INCREASED BY 0.8%. COMPARISON WAS, HOWEVER, AFFECTED BY SEASONAL FACTORS.

CPI (B) THIS

PRICES POR SOMB MEALS AT

THE INCREASES IN THE INDICES WERE LARGELY DUE TO HIGHER OF FOOD ITEMS (PARTICULARLY FRESH VEGETABLES), HIGHER RENT PRIVATE HOUSING UNITS AND AN INCREASE IN THE CHARGES FOR RESTAURANTS.