Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for April 2023 (104.43) grew by 0.85% year-on-year. The increment was attributed to dearer charges for eating out, rising tuition fees and wages of domestic helpers, as well as higher hotel room rates and prices of fruits and gasoline; yet, the rise was partially offset by lower rentals for dwellings and reduced airfares. Among the various sections of goods and services, price indices of Education and Household Furnishings & Services rose by 9.99% and 4.68% year-on-year respectively, whereas the index of Housing & Fuels dropped by 1.97%. The CPI-A (103.94) and CPI-B (105.08) saw respective growth of 0.60% and 1.17% year-on-year.
In comparison with March, the Composite CPI rose by 0.15% in April. Higher hotel room rates and new arrival of summer clothing drove up the price indices of Recreation & Culture and Clothing & Footwear by 1.32% and 0.93% respectively. Price index of Food & Non-Alcoholic Beverages increased by 0.41% on account of rising charges for eating out, together with dearer prices of vegetables and fruits. On the other hand, price indices of Transport, Household Furnishings & Services and Alcoholic Beverages & Tobacco dropped by 0.52%, 0.20% and 0.20% respectively. The CPI-A and CPI-B went up by 0.12% and 0.18% month-on-month respectively.
For the 12 months ended April 2023, the average Composite CPI grew by 0.99% from the previous period, and the price indices of Household Furnishings & Services (+9.93%), Education (+7.17%) and Transport (+3.94%) showed notable growth. The average CPI-A and CPI-B increased by 0.68% and 1.39% respectively over the previous period.
The average Composite CPI for the first four months of 2023 rose by 0.81% year-on-year. The average CPI-A and CPI-B went up by 0.57% and 1.13% respectively.
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.