Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for October 2022 (103.88) increased by 1.02% year-on-year. The increment was attributed to higher wages of domestic helpers and tuition fees, rising charges for eating out, as well as dearer prices of gasoline and fruits; yet, the rise was partially offset by lower rentals for dwellings and reduced charges for telecommunication services. Among the various sections of goods and services, price indices of Household Furnishings & Services and Education grew by 12.70% and 10.02% year-on-year respectively, whereas the index of Communication decreased by 9.28%. The CPI-A (103.49) and CPI-B (104.41) saw respective growth of 0.66% and 1.50% year-on-year.
In comparison with September, the Composite CPI for October dropped by 0.08%. Price index of Transport dipped by 0.69% owing to lower rentals for parking spaces in a few private car parks, along with falling airfares and gasoline prices. Price index of Housing and Fuels went down by 0.29% due to decreases in rentals for dwellings and electricity charges. On the other hand, price index of Clothing & Footwear increased by 1.09% month-on-month on account of new arrival of winter clothing. Price index of Food & Non-Alcoholic Beverages rose by 0.07% attributable to dearer charges for eating out and rising prices of vegetables. The CPI-A and CPI-B fell by 0.09% and 0.07% month-on-month respectively.
For the 12 months ended October 2022, the average Composite CPI grew by 1.10% from the previous period, and the price indices of Household Furnishings & Services (+10.87%) and Transport (+6.37%) showed notable growth. The average CPI-A and CPI-B increased by 0.80% and 1.50% respectively over the previous period.
The average Composite CPI for the first ten months of 2022 rose by 1.10% year-on-year. The average CPI-A and CPI-B went up by 0.78% and 1.53% respectively.
DSEC compiles three separate CPI series to reflect the impact of price changes for goods/services on households of different expenditure ranges. The CPI-A and CPI-B relate to about 50% and 30% of the households, which have an average monthly expenditure of MOP12,000-MOP35,999 and MOP36,000-MOP62,999 respectively; meanwhile, the Composite CPI relates to all the above-mentioned households.