XN000022-1996-01-23 — Page 9

8 -

A government spokesman said this was the third consecutive month when the rate of consumer price inflation in Hong Kong fell. The moderation was broadly based.

Apart from decreases in the prices of vegetables and of some Chinese newspapers, slower price increases were also recorded in most of the other components in CPI(A), including the prices of other foodstuffs, the prices of outerclothing and housing rentals.

Analysed by component, those components with faster price increases than the overall average for December 1995 over December 1994 were housing (10.7% in CPI(A), 11% in CPI(B) and 11.9% in the Composite CPI); and miscellaneous services (10.4%, 9.4% and 9.1%).

Meanwhile, those components with relatively slower price increases than the overall average for December 1995 over December 1994 were food (excluding meals bought away from home) (2.7% in CPI(A), 3.5% in CPI(B) and 3.2% in the Composite CPI); durable goods (4%, 3.7% and 3.9%); alcoholic drinks and tobacco (5.5%, 5.4% and 5.5%); and fuel and light (5.6%, 5.6% and 5.4%).

The miscellaneous goods category recorded a price decline for December 1995 over December 1994 (-3.6% in CPI(A), -0.7% in CPI(B) and -1.4% in the Composite CPI). This was mainly due to a large cut in the prices of some Chinese newspapers

last month.

Comparing December 1995 with November 1995, CPI(A) and CPI(B) decreased by 0.4% and 0.2% respectively. The corresponding decrease for the Composite CPI was 0.3%.

For the three months ended December 1995, CPI(A) and CPI(B) were, on average, higher by 7.7% and 8.1% respectively over a year earlier. The corresponding increase for the Composite CPI was 8.2%.

For 1995 as a whole, CPI(A) and CPI(B) were, on average, higher by 8.7% and 9.2% respectively than in 1994. The corresponding increase for the Composite CPI was 9.1%.

Seasonally adjusted series are also available for the CPIs. The deseasonalised CPI(A) and CPI(B) increased at average rates of 0.1% and 0.3% per month during the three months ended December 1995. The corresponding increase for the Composite CPI was 0.3%.