46
HONG KONG ANNUAL REPORT
prices for fresh vegetables in the period September to October were unusually high, as typhoon damage had coincided with the closing weeks of a seasonal shortage, and thereafter large quantities of vegetables arrived at the markets, causing prices to fall sharply. In addition, during November lower prices were recorded for most of the principal foodstuffs, including fresh and salted fish, pork and beef. The further decline in the Index figure for December was due to con- tinuing low prices for fresh vegetables, salted fish, pork, beef and fresh fruits. The average of the Retail Price Index in 1957 was the same as in 1956.
The price of rice remained relatively stable throughout the year, Save
in the months of July and August when lack of rain in Thailand caused temporary transportation difficul- ties resulting in short supply, and an announcement was made by the Thai Government that export quotas would be imposed. By September, however, supplies were once more coming forward, and when it was made known by the Thai Government that Hong Kong's requirements of rice would be met in full, prices took a downward trend and remained steady until the end of the year.
The following table shows the fluctuations which occurred in the two officially published indices--the Food and Fuel Index and the Retail Price Index :
-
Food and Fuel Index
Retail Price
Index
$
January February
12.5068
120
12.7585
122
March
12.7737
120
April
12.8134
118
May
12.5532
117
June
13.0780
118
July
12.7758
119
August
118
September
121
October
123
November
115
December
112
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