Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI in July 2017 increased by 1.03% year-on-year to 109.46, slightly lower than the 1.06% growth in June. The increment was attributable to higher charges for eating out and outpatient services, as well as rising tuition fees and dearer prices of adults’ footwear.
Among the various sections of goods and services, price indices of Education and Health grew by 7.53% and 5.22% respectively year-on-year, and price index of Food & Non-Alcoholic Beverages that accounted for the largest share of household expenditure went up by 1.80%. Meanwhile, price indices of Communication and Housing & Fuels dropped by 5.82% and 0.95% respectively. The CPI-A (109.57) and CPI-B (108.61) rose by 1.05% and 0.92% respectively year-on-year.
The Composite CPI in July 2017 edged up by 0.02% month-to-month. Higher charges for package tours during summer holidays pushed up the price index of Recreation & Culture by 1.84%. Price index of Food & Non-Alcoholic Beverages increased by 0.09% on account of rising prices of vegetables and dearer charges for eating out, yet receding fruit prices tapered off part of the increment. On the other hand, price index of Miscellaneous Goods & Services fell by 0.63% owing to lower prices of other personal effects (e.g. handbags and wallets), personal care products and gold jewellery. In addition, falling rentals for dwellings, and lower prices of Liquefied Petroleum Gas and gasoline offset the rise in electricity charges and taxi fares, bringing the price indices of Housing & Fuels and Transport down by 0.16% and 0.01% respectively month-to-month. The CPI-A rose by 0.03% month-to-month while the CPI-B dropped by 0.09%.
For the 12 months ended July 2017, the average Composite CPI climbed by 1.18% from the previous period, with marked increase in the price indices of Education (+7.53%), Alcoholic Beverages & Tobacco (+5.94%) and Transport (+5.37%). The average CPI-A and CPI-B rose by 1.10% and 1.89% respectively over the previous period.
The average Composite CPI for the first seven months of 2017 went up by 0.96% year-on-year; the average CPI-A and CPI-B increased by 0.91% and 1.35% respectively.
The Composite CPI reflects the impact of price changes on the general households in Macao. The CPI-A relates to about 50% of the households, which have an average monthly expenditure of MOP10,000 to MOP29,999. The CPI-B relates to about 30% of the households, which have an average monthly expenditure of MOP30,000 to MOP54,999.