Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the first quarter of 2022 grew by 1.02% year-on-year to 116.96, on account of dearer prices of local food products, fireworks and firecrackers; yet, lower hotel room rates and reduced prices of handbags offset part of the increase. Among the various sections of goods and services, price index of Entertainment & Cultural Activities surged by 22.27% year-on-year due to higher prices of fireworks and firecrackers. Price indices of Food, Alcoholic Beverages & Tobacco (+5.86%) and Medicine & Personal Goods (+3.64%) showed a year-on-year rise, while price indices of Accommodation (-3.70%) and Clothing & Footwear (-1.36%) decreased.
In comparison with the fourth quarter of 2021, TPI for the first quarter of 2022 dropped by 1.77%. Price indices of Accommodation and Clothing & Footwear fell by 18.96% and 4.74% respectively owing to lower hotel room rates and seasonal sale of winter clothing. On the other hand, price indices of Entertainment & Cultural Activities (+24.01%) and Food, Alcoholic Beverages & Tobacco (+6.96%) increased.
The average TPI for the last four quarters ended the first quarter of 2022 went down by 0.27% from the previous period. Price indices of Accommodation (-11.27%) and Transport & Communications (-4.11%) saw notable decreases, whereas the indices of Entertainment & Cultural Activities (+6.77%), Restaurant Services (+4.63%) and Food, Alcoholic Beverages & Tobacco (+3.14%) recorded growth.
TPI reflects the price change of goods and services purchased by visitors. Sections of TPI goods and services are selected according to the consumption pattern of visitors, namely Food, Alcoholic Beverages & Tobacco; Clothing & Footwear; Accommodation; Restaurant Services; Transport & Communications; Medicine & Personal Goods; Entertainment & Cultural Activities; and Miscellaneous Goods.