Taking the first eight months of 2007 together, the Composite CPI rose by 1.5% over a year earlier. The corresponding increases in the CPI(A), CPI(B) and CPI(C) were 0.6%, 1.7% and 2.3%.
Netting out the effect of the one-off measures of public rental waiver in February this year and the rates concession, the Composite CPI, CPI(A), CPI(B) and CPI(C) rose by 2.5%, 2.2%, 2.4% and 2.9% respectively in the first eight months of 2007 over a year earlier.
For the 3 months ended August 2007, the Composite CPI rose by 1.5% over a year earlier, while the CPI(A), CPI(B) and CPI(C) rose by 0.8%, 1.6% and 2.1% respectively.
For the 12 months ended August 2007, the Composite CPI was on average 1.7% higher than in the preceding 12-month period. The respective increases in the CPI(A), CPI(B) and CPI(C) were 1.0%, 1.8% and 2.4%.
Commentary:
The spokesman added that looking ahead, higher food prices will continue to pose an upside risk to inflation. With the favourable effect of the rates concession fading out after September, the headline inflation rate is expected to edge higher in the fourth quarter. Nevertheless, the recent cut in public housing rentals and sustained labour productivity growth will provide some cushioning effect.
Census and Statistics Department
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