XN000022-1992-09-28 — Page 2

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MONDAY, SEPTEMBER 28, 1992

CONSUMER PRICE INDICES FOR AUGUST

CONSUMER PRICE INFLATION MODERATED FURTHER IN AUGUST THIS YEAR.

ACCORDING TO THE FIGURES RELEASED TODAY (MONDAY) BY THE CENSUS AND STATISTICS DEPARTMENT, THE CONSUMER PRICE INDEX (CPI) (A) WAS 8.3% HIGHER IN AUGUST THIS YEAR THAN IN AUGUST 1991.

THIS WAS SIGNIFICANTLY LOWER THAN THE FIGURE OF 8.8% IN THE PRECEDING MONTH AND THE PEAK FIGURE OF 13.9% IN APRIL LAST YEAR.

THE FINANCIAL SECRETARY, MR. HAMISH MACLEOD, WELCOMED CONTINUED MODERATION IN CONSUMER PRICE INFLATION SO FAR THIS YEAR. DESCRIBED THIS DOWNWARD TREND AS 'ENCOURAGING'.

THE HE

THE CPI(B) AND THE HANG SENG CPI WERE HIGHER BY 9.1% AND 9.8% RESPECTIVELY IN AUGUST 1992 THAN IN AUGUST LAST YEAR.

THE CORRESPONDING INCREASES IN JULY 1992 WERE 9.3% AND 10.1%.

THE COMPOSITE CPI, WHICH WAS COMPILED AND BASED ON THE COMBINED EXPENDITURE PATTERN OF HOUSEHOLDS COVERED BY THE THREE CPIS, SHOWED AN INCREASE OF 9.0% IN AUGUST 1992 OVER THE SAME MONTH IN 1991. THE CORRESPONDING INCREASE IN JULY 1992 WAS 9.3%.

THE SLOWER YEAR-ON-YEAR RATES OF INCREASE IN THE CPIS IN AUGUST 1992 WERE MAINLY DUE TO LOWER PRICES OF FRESH VEGETABLES AND MORE MODERATE INCREASES IN THE PRICES OF SALT-WATER FISH AND PORK.

COMPARING AUGUST 1992 WITH AUGUST 1991, RELATIVELY SLOWER INCREASES IN PRICES WERE RECORDED FOR DURABLE GOODS (2.0% IN THE CPI(A) AND 2.2% IN THE CPI(B)); FOOD (EXCLUDING MEALS AT RESTAURANTS)

(2.1% AND 2.7%); TRANSPORT (6.2% AND 6.7%); MISCELLANEOUS GOODS (7.3% AND 7.0%); AND FUEL AND LIGHT (7.3% AND 7.1%).

ON THE OTHER HAND, RELATIVELY FASTER INCREASES IN PRICES WERE RECORDED FOR CLOTHING AND FOOTWEAR (9.9% IN THE CPI(A) AND 9.8% IN THE CPI(B)); MEALS AT RESTAURANTS (10.3% AND 10.2%); ALCOHOLIC DRINKS AND TOBACCO (11.2% AND 11.0%); HOUSING (12.1% AND 13.6%); AND SERVICES (12.3% AND 11.0%).

COMPARING AUGUST 1992 WITH JULY 1992, THE CPI(A) INCREASED BY 0.1% WHILE THE CPI(B) AND THE HANG SENG CPI INCREASED BY 0.4% AND 0.3% RESPECTIVELY.

THIS COMPARISON WAS, HOWEVER, AFFECTED BY SEASONAL FACTORS. THE INCREASES IN THE INDICES WERE LARGELY DUE TO HIGHER RENT FOR SOME PRIVATE HOUSING UNITS AND AN INCREASE IN THE CHARGES FOR MEALS AT RESTAURANTS. THE EFFECT OF SOME OF THESE PRICE INCREASES WAS PARTLY OFFSET BY LOWER PRICES OF FRESH VEGETABLES, SALT-WATER FRUIT AND OUTERCLOTHING.

FISH,

FRESH

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