XN000022-1994-10-21 — Page 10

FRIDAY, OCTOBER 21, 1994

CONSUMER PRICE INDICES FOR SEPTEMBER 1994 * * * * *

CONSUMER PRICE INFLATION MODERATED IN TEMPORARY UPSURGE IN JULY AND AUGUST.

SEPTEMBER AFTER A

THE CONSUMER PRICE INDEX (A) IN SEPTEMBER WAS 8.6% HIGHER THAN IN SEPTEMBER 1993, ACCORDING TO FIGURES RELEASED TODAY (FRIDAY) BY THE CENSUS AND STATISTICS DEPARTMENT. THIS REPRESENTED A SIGNIFICANT MODERATION FROM THE CORRESPONDING INCREASE OF 9.8% IN AUGUST.

OUT DUE

COMMENTING ON THE CPI FIGURES, A GOVERNMENT SPOKESMAN POINTED THAT "THE SLOWER INCREASE IN THE CPI(A) IN SEPTEMBER WAS MAINLY TO A SIGNIFICANT MODERATION IN THE PRICES OF VEGETABLES.

"AFTER THE DISRUPTION IN JULY AND AUGUST CAUSED BY THE FLOODING IN SOUTH CHINA AND THE SEVERAL HEAVY RAINSTORMS IN HONG KONG, SUPPLY AND HENCE THE PRICES OF VEGETABLES RETURNED QUITE PROMPTLY TO A MORE NORMAL LEVEL IN SEPTEMBER, HE SAID.

"

THE PRICES OF VEGETABLES RECORDED AN AVERAGE INCREASE OF 10% IN SEPTEMBER 1994 WHEN COMPARED WITH SEPTEMBER 1993. THE CORRESPONDING INCREASE IN AUGUST WAS 62%.

"THE VOLATILE FOOD COMPONENT APART, THE PATTERN OF CONSUMER PRICE INFLATION IN SEPTEMBER REMAINED BROADLY SIMILAR TO THAT IN THE PREVIOUS FEW MONTHS.

"THOSE COMPONENTS IN THE CPI WHICH RECORDED RATHER RAPID PRICE INCREASES THEREBY CONTRIBUTING MUCH TO THE RELATIVE HIGH INFLATION RATE OVERALL, CONTINUED TO BE HOUSING RENTALS, VARIOUS CONSUMER SERVICES, TRANSPORT AND MORE RECENTLY ALSO CLOTHING," THE SPOKESMAN SAID.

"TAKING THE FIRST NINE MONTHS TOGETHER, THE INCREASE IN THE CPI(A) AVERAGED AT 8.0%. THIS WAS STILL LOWER THAN THE AVERAGE INCREASE OF 8.5% IN 1993 AND THE OFFICIAL FORECAST ALSO OF 8.5% FOR 1994 AS A WHOLE," HE ADDED.

INDEX 10.2%

THE YEAR-ON-YEAR RATES OF INCREASE IN THE CONSUMER PRICE (B) AND THE HANG SENG CPI ALSO MODERATED, ΤΟ 9.0% AND RESPECTIVELY IN SEPTEMBER 1994. THIS COMPARED WITH THE CORRESPONDING INCREASES OF 9.5% AND 10.4% IN AUGUST 1994.

THE COMPOSITE CPI, WHICH IS COMPILED BASED ON THE COMBINED EXPENDITURE PATTERN OF HOUSEHOLDS COVERED BY THE THREE CPIS, SHOWED AN INCREASE OF 9.2% IN SEPTEMBER 1994 OVER THE SAME MONTH IN 1993. THIS WAS ALSO LOWER THAN THE CORRESPONDING INCREASE OF 9.8% IN AUGUST.

COMPARING SEPTEMBER THIS YEAR WITH THE SAME MONTH LAST YEAR, RELATIVELY SLOWER PRICE INCREASES THAN THE OVERALL AVERAGE WERE RECORDED FOR DURABLE GOODS (2.7% IN THE CPI(A) AND 2.9% IN THE CPI(B)); FUEL AND LIGHT (4.0% IN BOTH THE CPI(A) AND THE CPI (B)); ALCOHOLIC DRINKS AND TOBACCO (4.4% IN THE CPI{A} AND 5.4% IN THE CPI(B)); MISCELLANEOUS GOODS (5.9% AND 5.2%); FOOD (EXCLUDING MEALS BOUGHT AWAY FROM HOME) (7.0% AND 6.7%); AND MEALS BOUGHT HOME (7.4% AND 7.3%).

AWAY

FROM

/ON THE

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