Consumer prices continued downward in November amidst a generally slack retail market and keen price competition.

The further easing in property rentals and labour wages was seen last month and import prices were also down. However, the decreases have moderated, reflecting the effects of a weaker US dollar and a pick-up in world commodity prices in overall terms. 

Comparing November with October, there was an enlarged year-on-year decrease in private housing rentals, together with renewed falls in the prices of fresh vegetables and women's clothes.

Computers and telecoms equipment prices fell, but jewellery and package tour costs rose.

The rates concession, and water and sewage charges waiver are believed to have continued to dampen the Composite Consumer Price Index, CPI(A), CPI(B) and CPI(C) by 1%, 1.5%, 1% and 0.5% respectively in November over a year earlier. A similar effect was seen in October.