XN000022-1995-09-21 — Page 8

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Consumer Price Indices for August

The year-on-year rate of increase in the Consumer Price Index (A) moderated further to 8.3% in August 1995, from 8.9% in June and 8.5% in July. This is shown in the latest Consumer Price Indices released today (Thursday) by the Census and Statistics Department.

The rates of increase in the Consumer Price Index (B) and the Hang Seng CPI also moderated to 9% and 9.8% respectively in August 1995. They were slower than the corresponding increases of 9.2% and 10.1% in July.

The Composite CPI, which is compiled based on the combined expenditure pattern of all households, thus also showed a slower year-on-year increase of 9% in August, against 9.2% in July.

Commenting on the CPI figures, a government spokesman said: "The further moderation in consumer price inflation in August was mainly due to slower rates of increase in private housing rentals, and in the prices of outerclothing and fresh fruit. "Affected by the adverse weather conditions, prices of vegetables surged in August. But as there was a similar upsurge in vegetable prices in August last year, the price change on a year-on-year comparison basis had not raised the CPI much."

Comparing August 1995 with August 1994, relatively faster price increases than the overall average were recorded for housing (12.5% in the CPI(A), 14.2% in the CPI(B) and 13.6% in the Composite CPI); miscellaneous services (11.3%, 10.8% and 10.4%); and miscellaneous goods (8.9%, 7.7% and 8.1%).

On the other hand, relatively slower price increases than the overall average were recorded for durable goods (4.2% in the CPI(A), 4.4% in the CPI(B) and 4.5% in the Composite CPI); clothing and footwear (4.5%, 5% and 7.6%); food (excluding meals bought away from home) (4.9%, 5.6% and 5.3%); alcoholic drinks and tobacco (7%, 6.3% and 6.6%); transport (7.1%, 7.4% and 7.1%); meals bought away from home (7.3%, 7.2% and 7.1%); and fuel and light (7.7%, 7.8% and 7.4%).

Comparing August 1995 with July 1995, the CPI(A) and CPI(B) increased by 1.4% and 1% respectively. The corresponding increase for the Composite CPI was 1%.