Services index follows prices

PUBLISHED : Wednesday, 30 December, 1998, 12:00am
UPDATED : Wednesday, 30 December, 1998, 12:00am

The consumer-services price index showed its strongest decline on record last month, as prices fell 0.2 per cent from a year earlier. The Hong Kong Coalition of Service Industries yesterday said all service-price indices were affected by the continuing impact of the Government's rate rebate and the freezing of some public-service charges. The slump in service costs mirrors that of consumer prices overall, which last month were officially in recession for the first time in 23 years after a 0.7 per cent fall from a year earlier.