Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for January 2023 (104.10) grew by 0.77% year-on-year. The increment was attributed to higher charges for eating out, rising wages of domestic helpers, increased tuition fees, as well as dearer prices of gasoline and vegetables; yet, the rise was partially offset by lower rentals for dwellings, reduced charges for telecommunications services and receding prices of liquefied petroleum gas. Among the various sections of goods and services, price indices of Education and Household Furnishings & Services rose by 10.07% and 7.45% year-on-year respectively, whereas the index of Communication dropped by 9.14%. The CPI-A (103.67) and CPI-B (104.68) saw respective growth of 0.49% and 1.13% year-on-year.
In comparison with December 2022, the Composite CPI rose by 0.24% in January 2023. Higher charges for eating out, together with rising prices of vegetables, fruits and fresh fish, brought up the price index of Food & Non-Alcoholic Beverages by 0.84%. Price index of Recreation & Culture grew by 0.71% due to dearer prices of fresh flowers and higher hotel room rates. On the other hand, price indices of Communication, Household Furnishings & Services and Housing & Fuels decreased by 1.06%, 0.45% and 0.14% respectively. The CPI-A and CPI-B went up by 0.22% and 0.26% month-on-month respectively.
For the 12 months ended January 2023, the average Composite CPI grew by 1.02% from the previous period, and the price indices of Household Furnishings & Services (+11.08%) and Transport (+5.73%) showed notable growth. The average CPI-A and CPI-B increased by 0.70% and 1.46% respectively over the previous period.
DSEC compiles three separate CPI series to reflect the impact of price changes for goods/services on households of different expenditure ranges. The CPI-A and CPI-B relate to about 50% and 30% of the households, which have an average monthly expenditure of MOP12,000-MOP35,999 and MOP36,000-MOP62,999 respectively; meanwhile, the Composite CPI relates to all the above-mentioned households.