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ECONOMY | Tony Chua, Hong Kong
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September Hong Kong prices up 5.8%

During the first nine months of 2011, the Composite CPI up 5.1% a year earlier.

The Census & Statistics Department said Friday the Composite Consumer Price Index rose 5.8% in September over a year earlier, a little more than the corresponding increase of 5.7% recorded in August.

Netting out the effects of all Government one-off relief measures, the year-on-year rate of increase in the Composite CPI in September was 6.4%, also slightly more than that in August (6.3%), mainly due to the increases in private housing rentals.

On a seasonally adjusted basis, the average monthly rate of change in the Composite CPI for the three-month period from July to September was -0.6%, the same as that for June to August. Netting out the effects of all Government one-off relief measures, the average monthly rate of increase in the Composite CPI for July to September was 0.5%, the same as that for June to August.

Year-on-year increases in prices were recorded in September 2011 for alcoholic drinks and tobacco (20.3%), food but excluding meals bought away from home (11.3%), clothing and footwear (8.7%), housing (8.3%), meals bought away from home (5.7%), transport (5.3%), miscellaneous goods (4.8%) and miscellaneous services (4.1%).

Year-on-year decreases in prices were recorded for electricity, gas and water (-15.9%) and durable goods (-3%).

During the first nine months of the year, the Composite CPI rose 5.1% over a year earlier. Netting out the effects of all Government’s one-off relief measures, it went up 4.9%, according to a government report.

In the third quarter this year, the Composite CPI rose 6.4% over a year earlier, while the corresponding increase after netting out the effects of all Government’s one-off relief measures was 6.1%.

For the 12 months ended September, the Composite CPI was on average 4.5% higher than in the preceding 12-month period. The corresponding increase after netting out the effects of all Government’s one-off relief measures was 4.3%.

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