****************************************
The Census and Statistics Department (C&SD) released today (December 22) the Consumer Price Index (CPI) figures for November 2005. According to the Composite CPI, overall consumer prices rose by 1.7% in November 2005 over a year earlier, slightly smaller than the 1.8% increase in October.
2. The smaller year-on-year increase in the Composite CPI in November 2005 than in October 2005 was mainly attributable to moderated increases in the prices of some basic foodstuffs items and jewellery, as well as in the charges for package tours.
3. Analysed by sub-index and on a year-on-year comparison, the CPI(A), CPI(B) and CPI(C) rose by 1.5%, 1.8% and 1.7% respectively in November 2005, also smaller than the corresponding increases of 1.7%, 1.9% and 1.9% in October.
4. For discerning the latest trend in consumer prices, it is also useful to look at the changes in the seasonally adjusted CPIs. For the 3-month period ended November 2005, the average monthly rates of change in the seasonally adjusted Composite CPI, CPI(A), CPI(B) and CPI(C) were all 0.2%, same as those for the 3-month period ended October 2005.
5. Amongst the various CPI components, year-on-year increases in prices were recorded in November 2005 for electricity, gas and water (4.3% in the Composite CPI and 4.2% in the CPI(A)), housing (2.7% in the Composite CPI and 2.3% in the CPI(A)), miscellaneous goods (2.3% in the Composite CPI and 0.8% in the CPI(A)), transport (2.0% in the Composite CPI and 1.8% in the CPI(A)), food (excluding meals bought away from home) (1.7% in the Composite CPI and 1.9% in the CPI(A)), miscellaneous services (1.3% in the Composite CPI and 0.6% in the CPI(A)), meals bought away from home (1.1% in the Composite CPI and 1.4% in the CPI(A)), clothing and footwear (0.6% in the Composite CPI and 0.8% in the CPI(A)) and alcoholic drinks and tobacco (0.4% in both the Composite CPI and CPI(A)).
6. On the other hand, year-on-year declines in prices were recorded in November 2005 for durable goods (-2.2% in both the Composite CPI and CPI(A)).
7. Taking the first eleven months of 2005 together, the Composite CPI rose by 1.0% from a year earlier. Concurrently, the CPI(A), CPI(B) and CPI(C) rose by 1.1%, 1.1% and 0.9% respectively.
8. For the 3 months ended November 2005, the Composite CPI rose by 1.7% from a year earlier. The corresponding increases in the CPI(A), CPI(B) and CPI(C) were 1.6%, 1.8% and 1.8%.
9. For the 12 months ended November 2005, the Composite CPI was on average 1.0% higher than in the preceding 12-month period. The corresponding increases in the CPI(A), CPI(B) and CPI(C) were 1.1%, 1.0% and 0.8%.
Commentary
10. A Government Secretariat spokesman noted that consumer price inflation remained benign in November. Although there was a progressive feed-through of the earlier rebound in private housing rentals, prices of non-housing items taken together only showed a modest increase. The continued expansion in production capacity brought about by rising productivity and the ease-back in oil prices will to a certain extent help contain inflation pressures in the economy in the coming months.
Further information
11. Further details are shown in Tables 1 and 2. The rates of change in the original and the seasonally adjusted Composite CPI are presented graphically in Chart 1.
12. The November 2005 issue of the Monthly Report on the Consumer Price Index is now on sale at HK$37 per issue. Both print version and download version of the publication can be purchased online at the "Statistical Bookstore, Hong Kong" (http://www.statisticalbookstore.gov.hk). Download version of the publication can be purchased at 75% of its original price exclusively at the online Statistical Bookstore. Print version if purchased online is also offered a discount, at 85% of its original price at the Statistical Bookstore as well as the Government Bookstore (http://www.isd.gov.hk/eng/bookorder.htm). For purchase of print version, this can be done through mail order by returning a completed order form which can be downloaded from the C&SDĄ¯s website (http://www.censtatd.gov.hk/eng/prod_serv/forms_index.html). Purchase can also be made in person at the Publications Unit of the C&SD (Address: 19/F, Wanchai Tower, 12 Harbour Road, Wan Chai; Tel: 2582 3025).
13. For enquiries about the CPIs, please contact the Consumer Price Index Section of the C&SD at telephone 2805 6403 or email address cpi@censtatd.gov.hk.
Ends/Thursday, December 22, 2005
Issued at HKT 16:18
NNNN