Information from the Statistics and Census Service indicated that the Tourist Price Index (TPI) for the fourth quarter of 2007 was 136.35, up by 6.76% over the previous quarter. Attributable to the significant surge of the hotel room rate during the National Day holidays, the Macao Grand Prix and Christmas holiday period, the price index of Accommodation soared by 33.53%; in addition, the index of Miscellaneous goods increased by 10.44% as a result of dearer jewellery prices led by the rising gold prices. On the other hand, the index of Transport & communications fell slightly by 0.03%, representing the only decrease in this quarter. Compared with the fourth quarter of 2006, TPI rose by 11.54% in this quarter, with notable increase in the indices of Miscellaneous goods (+20.96%), Restaurant service (+16.11%) and Accommodation (+13.49%). The average TPI for 2007 increased by 9.51% over 2006, with marked increase in the index of Miscellaneous goods (+15.08%), Restaurant service (+13.67%) and Accommodation (+10.46%). TPI reflects the price changes of goods and services purchased by visitors, which is compiled based on the consumption pattern of visitors derived from the Visitor Expenditure Survey. TPI covers 8 sections of goods and services, namely Food, alcoholic drinks & tobacco; Clothing & footwear; Accommodation; Restaurant service; Transport & communications; Medicine & personal goods; Entertainment & culture; and Miscellaneous goods. The base year of TPI is from July 1999 to June 2000.
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