XN000022-1995-05-22 — Page 9

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Consumer Price Indices for April 1995

The Consumer Price Index (A) in April 1995 was 9.6% higher than in April 1994, according to figures released today (Monday) by the Census and Statistics Department. This was marginally faster than the corresponding increase of 9.5% in March this year.

On the other hand, the rate of increase in the Consumer Price Index (B) and the Hang Seng CPI were 9.9% and 9.8% respectively, marginally slower than the corresponding increases of 10.0% and 9.9% in March.

The Composite CPI, which is compiled based on the combined expenditure pattern of households covered by the three CPIs, showed an increase of 9.8% in April 1995 over the same month in 1994. This was the same as the corresponding increase in March.

Commenting on the CPI figures for April as compared to March, a Government spokesman said consumer price inflation in Hong Kong remained stable in overall terms, although the level of inflation itself was still high.

The slightly slower increases recorded for the CPI(B) and the Hang Seng CPI, in contrast to the slightly faster increase recorded for the CPI(A), was mainly due to a pick-up in the prices of basic foodstuffs along with a less rapid rise in private housing rentals as well as prices of clothing and footwear.

Given the difference in weightings, the boosting effect from food prices affected the CPI(A) more than the CPI(B) and the Hang Seng CPI, while the moderating effect from housing rentals as well as prices of clothing and footwear affected the CPI(A) less than the other two indices.

Comparing April 1995 with April 1994, relatively faster price increases than the overall average increase were recorded for housing (12.5% in the CPI(A) and 13.9% in the CPI(B)); miscellaneous services (11.5% and 10.7%); fuel and light (10.5% and 10.7%); food (excluding meals bought away from home) (10.5% and 10.0%); and clothing and footwear (10.4% and 10.9%).

On the other hand, relatively slower price increases than the overall average increase were recorded for durable goods (4.3% in the CPI(A) and 4.6% in the CPI(B)); alcoholic drinks and tobacco (6.5% and 5.7%); transport (6.8% and 7.3%); meals bought away from home (7.1% and 6.9%); and miscellaneous goods (8.4% and 7.3%).

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