Clothing & footwear prices up 4.3% in Composite CPI for Aug
20 Sep '07
3 min read
The Census and Statistics Department (C&SD) released today (September 20) the Consumer Price Index (CPI) figures for August 2007. According to the Composite CPI, overall consumer prices rose by 1.6% in August 2007 over a year earlier.
The Budget measure of rates concession for the first two quarters of 2007/08 (i.e. April to September 2007) continued to carry effect on the CPIs in August. Netting out this factor, the year-on-year increase in the Composite CPI was 2.7% in August 2007.
Analysed by sub-index, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 0.7%, 1.7% and 2.4% respectively in August 2007, which compared to 1.0%, 1.6% and 2.1% respectively in July. Netting out the one-off effect of the rates concession, the year-on-year increases in the CPI(A), CPI(B) and CPI(C) were 2.1%, 2.7% and 3.3% respectively in August.
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 August 2007, the average monthly rates of increase in the seasonally adjusted Composite CPI, CPI(A), CPI(B) and CPI(C) were 0.3%, 0.2%, 0.3% and 0.4% respectively. The corresponding rates of increase for the 3-month period ended July 2007 were 0.3%, 0.3%, 0.4% and 0.4%.
Apart from food (excluding meals bought away from home), year-on-year increases in prices were recorded for clothing and footwear (4.3% in the Composite CPI and 1.2% in the CPI(A)), miscellaneous goods (2.0% in the Composite CPI and 2.1% in the CPI(A)) and miscellaneous services (1.7% in the Composite CPI and 0.3% in the CPI(A)).
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