Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for June 2023 (104.69) grew by 0.80% year-on-year. The increment was attributed to dearer charges for eating out, rising tuition fees and wages of domestic helpers, as well as increases in hotel room rates and clothing prices; 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, Clothing & Footwear, Recreation & Culture and Food & Non-Alcoholic Beverages climbed by 9.98%, 5.44%, 5.38% and 2.64% year-on-year respectively, whereas the indices of Transport and Housing & Fuels dropped by 3.74% and 1.76% respectively. The CPI-A (104.17) and CPI-B (105.38) saw respective growth of 0.58% and 1.10% year-on-year.
In comparison with May, the Composite CPI rose by 0.11% in June. Higher prices of summer clothing and rising charges for outpatient service pushed up the price indices of Clothing & Footwear and Health by 1.61% and 0.38% respectively. Price index of Transport grew by 0.27% due to higher airfares. Despite reduced vegetable prices, price index of Food & Non-Alcoholic Beverages went up by 0.21% on account of dearer seafood prices and eating out charges. On the other hand, price indices of Miscellaneous Goods & Services and Recreation & Culture both fell by 0.15%. The CPI-A and CPI-B increased by 0.09% and 0.14% month-on-month respectively.
For the 12 months ended June 2023, the average Composite CPI rose by 0.93% from the previous period, and the price indices of Education (+8.60%), Household Furnishings & Services (+8.43%) showed notable growth. The average CPI-A and CPI-B increased by 0.64% and 1.31% respectively over the previous period.
The average Composite CPI for the second quarter of 2023 (104.57) increased by 0.85% year-on-year; the average CPI-A (104.06) and CPI-B (105.23) grew by 0.61% and 1.16% respectively. The average Composite CPI for the first half of 2023 rose by 0.82% year-on-year. The average CPI-A and CPI-B went up by 0.58% and 1.14% 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.