Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI (109.25) for January 2017 increased by 1.76% year-on-year, up by 0.32 percentage points from the 1.44% growth in December 2016. The increment was attributable to significant year-on-year increase in charges for package tours as the Lunar New Year that fell in February last year occurred in January this year; dearer charges for eating out, rising rentals for parking spaces and higher prices of motor cars and gasoline also drove up the index.
Among the various sections of goods and services, price indices of Recreation & Culture (+9.03%), Transport (+8.12%) and Education (+7.38%) increased year-on-year; price index of Food & Non-Alcoholic Beverages that accounted for the largest share of household expenditure also went up by 1.69%. On the other hand, price indices of Housing & Fuels, Communication and Clothing & Footwear decreased by 1.79%, 1.73% and 0.88% respectively. The CPI-A (109.37) and CPI-B (108.23) rose by 1.64% and 2.78% respectively year-on-year.
The Composite CPI for January 2017 rose by 0.36% month-to-month. Soaring charges for package tours during the Lunar New Year period, as well as rising airfares and gasoline prices, pushed up the price indices of Recreation & Culture and Transport by 7.49% and 1.10% respectively. Price index of Food & Non-Alcoholic Beverages rose by 0.39% due to higher charges for eating out and dearer prices of fresh fish, seafood and fresh pork, yet receding prices of vegetables tapered off part of the increase. Moreover, price index of Miscellaneous Goods & Services increased by 0.56% owing to higher charges for hairdressing services before the Lunar New Year. On the contrary, seasonal sale of winter clothing caused the price index of Clothing & Footwear to fall by 4.71%. The CPI-A and CPI-B rose by 0.37% and 0.25% respectively month-to-month.
For the 12 months ended January 2017, the average Composite CPI went up by 2.20% from the previous period. Price indices of Alcoholic Beverages & Tobacco (+19.10%), Education (+8.26%) and Transport (+7.17%) showed marked increase. The average CPI-A and CPI-B rose by 2.11% and 2.97% respectively over the previous period.
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.