XN000022-1996-05-23 — Page 26

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Consumer price indices for April

The Census and Statistics Department today (Thursday) released the Consumer Price Index (CPI) figures for April 1996 from both the new 1994/95-based Index (CPI) series as well as the old 1989/90-based series.

Since the new series has only been compiled starting from October 1995 and is therefore not long enough for producing year-on-year comparison of price movements, the old series will continue to be used for this purpose for the time being. It will continue to be compiled and published until March 1997.

The year-on-year rate of change in the 1989/90-based CPI(A) increased by 6.9% in April 1996. This was slightly higher than the 6.7% increase recorded in March.

The rate of change in the Consumer Price Index (B) also increased marginally, from 7.3% in March to 7.4% in April. On the other hand, the rate of increase in Hang Seng CPI, at 7.7% in April, was slower than the corresponding increase of 8.2% in March.

Composite CPI, which is compiled based on the combined expenditure pattern of all households, showed an increase of 7.3% in April 1996, same as in both February and March.

A government spokesman said the slightly faster increase in CPI(A) in April than in March was mainly due to higher prices of some food items, including vegetables and live poultry.

On the other hand, the prices of durable goods, transport fares, and charges for miscellaneous consumer services rose more moderately. The prices of miscellaneous goods continued to record a year-on-year decline.

While most of the major components in CPI(B) showed similar movements as those in CPI(A), the rate of increase in Hang Seng CPI was alleviated by a less rapid increase in private housing rentals and in prices of meals away from home.

Analysed by component, relatively faster year-on-year price increases than the overall average were recorded in April for housing (10% in CPI(A), 11.3% in CPI(B), 12.7% in Hang Seng CPI and 11.4% in Composite CPI); and food (excluding meals bought away from home) (8.7%, 8.4%, 7.9% and 8.5%).