Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the third quarter of 2022 dropped by 0.93% year-on-year to 115.50. The decrease was mainly attributable to lower hotel room rates and reduced charges for restaurant services; yet, dearer prices of local food products offset part of the decrease. Among the various sections of goods and services, price index of Accommodation (-22.83%) recorded notable year-on-year decline, whereas the indices of Food, Alcoholic Beverages & Tobacco (+5.59%) and Clothing & Footwear (+5.27%) rose.
In comparison with the previous quarter, TPI for the third quarter of 2022 went up by 0.55%. Higher airfares and hotel room rates pushed up the price indices of Transport & Communications and Accommodation by 6.45% and 2.87% respectively; besides, price index of Food, Alcoholic Beverages & Tobacco registered a growth of 1.56%. On the other hand, price index of Clothing & Footwear fell by 3.47% quarter-to-quarter on account of seasonal sale of summer clothing.
The average TPI for the last four quarters ended the third quarter of 2022 dropped by 0.24% from the previous period. Price index of Accommodation declined by 9.61% while the index of Entertainment & Cultural Activities increased by 18.65%. For the first three quarters of 2022, TPI went down by 0.56% year-on-year, with marked decrease in price index of Accommodation (-13.91%).
TPI reflects the price change of goods and services purchased by visitors. Sections of TPI goods and services are selected according to the consumption pattern of visitors, namely Food, Alcoholic Beverages & Tobacco; Clothing & Footwear; Accommodation; Restaurant Services; Transport & Communications; Medicine & Personal Goods; Entertainment & Cultural Activities; and Miscellaneous Goods.