GF 323
禨密
CONFIDENTIAL #
of 1993 and
Inflation
further
7
to 12.4% in the second quarter (9).
was consistently higher in the major cities,
where the Cost of Living Index rose by an average of 15.7%
and 19.1% in the first two quarters of 1993. This was
largely due to faster increases in the prices of such
consumer goods as foodstuffs, colour television sets and
fuels, as well as the prices of service items, which tended
to be consumed more in the cities than in the rural areas.
8.
was
caused
Admittedly, the trend
in part by the
implemented by the government
of accelerating inflation
price decontrol measures
over
the past year or
(9)
is computed as a prices of consumer
The General Retail Price Index weighted average of the retail goods and agricultural products, but excluding the prices of services.
The Cost of Living Index measures the price movements of all goods and services consumed by staff and workers in 35 major cities in China. It is roughly comparable to the Consumer Price Index in Hong Kong.
Year-on-year rates of increase (%) in:
General
Retail Price Cost of Living
Index
Index
1989
17.8
16.3
1990
2.1
1.3
1991
2.9
5.1
1992
5.4
10.9
1992 H1
4. 9
10.5
H2
5.8
11.5
1993 H1 Q1
10.5
17.4
Q2
8.6 12.4
15.7
19.1
According to the latest statistics available, in July the General Retail Price Index and the Cost of Living Index covering 35 major cities both rose even faster, by 12.6% and 23.3% respectively.
CONFIDENTIAL #
機密
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