Consumer Price Indices for September 2005
***************************************** The Census and Statistics Department (C&SD) released today (October 21) the Consumer Price Index (CPI) figures for September 2005. According to the Composite CPI, overall consumer prices rose by 1.6% in September 2005 over a year earlier, larger than the 1.4% increase in August.
2. The larger year-on-year increase in the Composite CPI in September 2005 than in August 2005 was mainly attributable to the enlarged increase in the private housing rentals. Besides, the increase in the charge for towngas resulting from the adjustment of the fuel cost variation charge was also relevant.
3. Analysed by sub-index and on a year-on-year comparison, the CPI(A), CPI(B) and CPI(C) rose by 1.5%, 1.7% and 1.7% respectively in September 2005, also larger than the corresponding increases of 1.3%, 1.4% and 1.5% in August.
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 September 2005, the average monthly rates of change in the seasonally adjusted Composite CPI, CPI(A), CPI(B) and CPI(C) were 0.1%, virtually nil, 0.1% and 0.2% respectively. The corresponding rates of change for the 3-month period ended August 2005 were all 0.1%.
5. Amongst the various CPI components, year-on-year increases in prices were recorded in September 2005 for electricity, gas and water (4.1% in the Composite CPI and 4.0% in the CPI(A)), miscellaneous goods (2.9% in the Composite CPI and 2.1% in the CPI(A)), food (excluding meals bought away from home) (2.4% in both the Composite CPI and CPI(A)), clothing and footwear (2.1% in the Composite CPI and 2.5% in the CPI(A)), transport (2.1% in the Composite CPI and 1.8% in the CPI(A)), housing (1.6% in the Composite CPI and 1.3% in the CPI(A)), meals bought away from home (1.2% in the Composite CPI and 1.5% in the CPI(A)), miscellaneous services (1.2% in the Composite CPI and 0.3% 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 September 2005 for durable goods (-1.6% in the Composite CPI and -1.2% in the CPI(A)).
7. Taking the first nine months of 2005 together, the Composite CPI rose by 0.9% from a year earlier. Concurrently, the CPI(A), CPI(B) and CPI(C) rose by 1.0%, 0.9% and 0.7% respectively.
8. For the 3 months ended September 2005, the Composite CPI rose by 1.4% from a year earlier. The corresponding increases in the CPI(A), CPI(B) and CPI(C) were 1.4%, 1.5% and 1.5%.
9. For the 12 months ended September 2005, the Composite CPI was on average 0.7% higher than in the preceding 12-month period. The corresponding increases in the CPI(A), CPI(B) and CPI(C) were 0.9%, 0.7% and 0.5%.
Commentary
10. A government spokesman noted that the climb-up in consumer price inflation continued in September, in tandem with the increasingly entrenched economic recovery and the gradual feed-through of higher private housing rentals for fresh lettings into the CPI rental component. Looking ahead, consumer price inflation is expected to move up further, along with the gradual rise-back in private housing rentals and in business costs and with the further pass-through of higher oil prices to the retail level. Yet overall price pressure is still likely to remain moderate through to the year-end.
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 September 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&SD's website (http://www.info.gov.hk/censtatd/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.
***************************************** The Census and Statistics Department (C&SD) released today (October 21) the Consumer Price Index (CPI) figures for September 2005. According to the Composite CPI, overall consumer prices rose by 1.6% in September 2005 over a year earlier, larger than the 1.4% increase in August.
2. The larger year-on-year increase in the Composite CPI in September 2005 than in August 2005 was mainly attributable to the enlarged increase in the private housing rentals. Besides, the increase in the charge for towngas resulting from the adjustment of the fuel cost variation charge was also relevant.
3. Analysed by sub-index and on a year-on-year comparison, the CPI(A), CPI(B) and CPI(C) rose by 1.5%, 1.7% and 1.7% respectively in September 2005, also larger than the corresponding increases of 1.3%, 1.4% and 1.5% in August.
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 September 2005, the average monthly rates of change in the seasonally adjusted Composite CPI, CPI(A), CPI(B) and CPI(C) were 0.1%, virtually nil, 0.1% and 0.2% respectively. The corresponding rates of change for the 3-month period ended August 2005 were all 0.1%.
5. Amongst the various CPI components, year-on-year increases in prices were recorded in September 2005 for electricity, gas and water (4.1% in the Composite CPI and 4.0% in the CPI(A)), miscellaneous goods (2.9% in the Composite CPI and 2.1% in the CPI(A)), food (excluding meals bought away from home) (2.4% in both the Composite CPI and CPI(A)), clothing and footwear (2.1% in the Composite CPI and 2.5% in the CPI(A)), transport (2.1% in the Composite CPI and 1.8% in the CPI(A)), housing (1.6% in the Composite CPI and 1.3% in the CPI(A)), meals bought away from home (1.2% in the Composite CPI and 1.5% in the CPI(A)), miscellaneous services (1.2% in the Composite CPI and 0.3% 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 September 2005 for durable goods (-1.6% in the Composite CPI and -1.2% in the CPI(A)).
7. Taking the first nine months of 2005 together, the Composite CPI rose by 0.9% from a year earlier. Concurrently, the CPI(A), CPI(B) and CPI(C) rose by 1.0%, 0.9% and 0.7% respectively.
8. For the 3 months ended September 2005, the Composite CPI rose by 1.4% from a year earlier. The corresponding increases in the CPI(A), CPI(B) and CPI(C) were 1.4%, 1.5% and 1.5%.
9. For the 12 months ended September 2005, the Composite CPI was on average 0.7% higher than in the preceding 12-month period. The corresponding increases in the CPI(A), CPI(B) and CPI(C) were 0.9%, 0.7% and 0.5%.
Commentary
10. A government spokesman noted that the climb-up in consumer price inflation continued in September, in tandem with the increasingly entrenched economic recovery and the gradual feed-through of higher private housing rentals for fresh lettings into the CPI rental component. Looking ahead, consumer price inflation is expected to move up further, along with the gradual rise-back in private housing rentals and in business costs and with the further pass-through of higher oil prices to the retail level. Yet overall price pressure is still likely to remain moderate through to the year-end.
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 September 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&SD's website (http://www.info.gov.hk/censtatd/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/Friday, October 21, 2005
Issued at HKT 16:15
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