Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI (103.52) for January 2020 increased by 2.98% year-on-year, up by 0.42 percentage points compared to December 2019 (+2.56%). The increment was attributable to higher charges for eating out and package tours, rising rentals for dwellings as well as dearer prices of fresh pork and gasoline.
Among the various sections of goods and services, price indices of Transport and Recreation & Culture surged by 6.53% and 6.49% respectively year-on-year, whereas the indices of Communication and Clothing & Footwear fell by 8.64% and 6.51%. The CPI-A (103.54) and CPI-B (103.50) saw respective increases of 2.99% and 2.95% year-on-year.
The Composite CPI for January 2020 rose by 0.57% month-to-month. Soaring charges for package tours and higher airfares during the Lunar New Year period as well as rising gasoline prices drove up the price indices of Recreation & Culture and Transport by 6.64% and 2.47% respectively. Price index of Food & Non-Alcoholic Beverages went up by 0.73% on account of dearer charges for eating out and higher prices of fresh pork, vegetables and fruits. On the other hand, receding charges for telecommunication services and seasonal sales of winter clothing and footwear pushed down the price indices of Communication and Clothing & Footwear by 6.08% and 2.95% respectively. The CPI-A and CPI-B grew by 0.53% and 0.62% respectively month-to-month.
For the 12 months ended January 2020, the average Composite CPI increased by 2.75% from the previous period, with notable growth in the price indices of Education (+5.59%), Transport (+4.99%) and Food & Non-Alcoholic Beverages (+4.00%). The average CPI-A and CPI-B rose by 2.69% and 3.31% 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 MOP12,000 to MOP35,999. The CPI-B relates to about 30% of the households, which have an average monthly expenditure of MOP36,000 to MOP62,999.