Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for September 2023 (104.86) grew by 0.86% year-on-year. The increment was attributed to dearer charges for eating out and rising tuition fees, as well as increases in hotel room rates and clothing prices; yet, the rise was partially offset by falling airfares and lower rentals for dwellings. Among the various sections of goods and services, the price indices of Recreation & Culture, Clothing & Footwear, Education and Food & Non-Alcoholic Beverages rose by 5.45%, 5.13%, 5.06% and 2.67% year-on-year respectively, whereas the indices of Transport and Housing & Fuels dropped by 3.75% and 1.25% respectively. The CPI-A (104.31) and CPI-B (105.59) recorded respective growth of 0.70% and 1.06% year-on-year.
In comparison with August, the Composite CPI rose by 0.06% in September. Price indices of Education and Miscellaneous Goods & Services climbed by 4.98% and 0.96% respectively on account of increased tuition fees and higher charges for tuition centres and tutoring sessions in schools in the new academic year. In addition, higher rentals for dwellings, together with dearer eating out charges and vegetable prices, pushed up the price indices of Housing & Fuels and Food & Non-Alcoholic Beverages by 0.16% and 0.13% respectively. On the other hand, price indices of Recreation & Culture and Transport dropped by 2.13% and 1.85% respectively due to decreases in package tour charges and airfares. The CPI-A and CPI-B went up by 0.05% and 0.07% month-on-month respectively.
For the 12 months ended September 2023, the average Composite CPI grew by 0.84% from the previous period, and the price indices of Education (+9.56%) and Household Furnishings & Services (+5.48%) showed notable growth. The average CPI-A and CPI-B increased by 0.59% and 1.18% respectively over the previous period.
The average Composite CPI for the third quarter of 2023 (104.80) increased by 0.87% year-on-year; the average CPI-A (104.27) and CPI-B (105.51) grew by 0.67% and 1.14% respectively. The average Composite CPI for the first nine months of 2023 rose by 0.84% year-on-year. The average CPI-A and CPI-B went up by 0.61% 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.