On the other hand, year-on-year declines in prices were recorded in September 2006 for durable goods (-6.7 percent in the Composite CPI and -7.4 percent in the CPI(A)).
Taking the first nine months of 2006 together, the Composite CPI rose by 2.0 percent over a year earlier. The corresponding increases in the CPI(A), CPI(B) and CPI(C) were 1.7 percent, 2.1 percent and 2.2 percent.
For the 3 months ended September 2006, the Composite CPI rose by 2.3 percent over a year earlier, while the CPI(A), CPI(B) and CPI(C) rose by 2.1 percent, 2.4 percent and 2.4 percent respectively.
For the 12 months ended September 2006, the Composite CPI was on average 1.8 percent higher than in the preceding 12 month period. The respective increases in the CPI(A), CPI(B) and CPI(C) were 1.6 percent, 1.9 percent and 1.9 percent.
The new 2004/05-based CPI series, as was first announced by the C&SD on April 27, 2006, is compiled on the basis of the expenditure patterns obtained from the Household Expenditure Survey (HES) conducted during October 2004 to September 2005.
It replaces the old 1999/2000-based series for analysing consumer price inflation.
The old series will continue to be compiled in parallel with the new series until the reference month of December 2006.
It is an established practice in Hong Kong for the HES to be conducted and for the CPI series to be rebased once every five years.
Both the old and the new series of CPIs have been exhibiting a similar trend in recent months.
Census and Statistics Department
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