CPI declined 1.4% in April

The Census and Statistics Department released the Consumer Price Index (CPI) figures for April 2001. According to the new 1999/2000-based series of Composite CPI, overall consumer prices declined by 1.4% in April 2001 over a year earlier, smaller than the 1.9% decrease in March 2001.



Lesser declines were likewise observed in all the three sub-indices. The CPI(A), CPI(B) and CPI(C) fell by 1.2%, 1.6% and 1.4% respectively in April 2001 over a year earlier, as compared to corresponding decreases of 2.1%, 2.0% and 1.5% in March 2001.



The smaller year-on-year decreases in the CPIs in April 2001 than in March 2001 were mainly attributable to dissipation of the effect of the special one-off rebate on electricity charges by a power company and, to a lesser extent, a further narrowing of the decline in private housing rentals. Also relevant was increased prices of fresh vegetables owing to reduced supply in the latter part of April.



A Government Secretariat spokesmen noted that while consumer prices remained generally soft amidst lower import prices, the rates of decline in the CPIs narrowed most recently, as property rentals continued to bottom out and as the effect of the one-off rebate on electricity charges lapsed

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