Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for March 2025 rose by 0.04% year-on-year, but dropped by 0.08% month-on-month. For the 12 months ended March this year, the average Composite CPI grew by 0.48% from the previous period (April 2023 – March 2024).
In comparison with March last year, the price index of Miscellaneous Goods & Services (such as personal care products, insurance, jewellery, clocks and watches) grew by 1.99% in March 2025. The price index of Food & Non-Alcoholic Beverages (+0.48%) recorded year-on-year increase on account of higher charges for eating out and takeaway, whereas rising rentals for dwellings drove up the price index of Housing & Fuels (+0.32%). On the other hand, the price indices of Information & Communication (-2.92%), Transport (-2.77%) and Clothing & Footwear (-2.62%) dropped. The CPI-A and CPI-B grew by 0.03% and 0.04% year-on-year respectively.
When compared to February this year, the Composite CPI dipped by 0.08% in March. Price indices of Clothing & Footwear (-1.4%) and Transport (-0.46%) decreased, dragged down by seasonal sale of adults’ clothing and lower airfares. With respect to the sections of goods and services that are closely linked to livelihoods, the price index of Food & Non-Alcoholic Beverages (-0.08%) diminished, as the drop in prices of fruits, fresh fish, seafood and vegetables tempered the rise in charges for eating out and takeaway. By contrast, the price indices of Alcoholic Beverages & Tobacco (+0.46%), Health (+0.07%) and Housing & Fuels (+0.05%) recorded a month-on-month growth. The CPI-A and CPI-B went down by 0.06% and 0.1% month-on-month respectively.
For the 12 months ended March 2025, the average Composite CPI climbed by 0.48% from the previous period. Among the various sections of goods and services, the price indices of Education (+2.52%), Miscellaneous Goods & Services (+2.52%) and Health (+1.78%) saw notable increases, while the index of Transport (-3.15%) fell. The average CPI-A and CPI-B went up by 0.46% and 0.49% respectively over the previous period.
In the first quarter of 2025, the average Composite CPI grew by 0.15% year-on-year, with the price index of Food & Non-Alcoholic Beverages rising by 0.68%. The average CPI-A and CPI-B showed respective growth of 0.12% and 0.16%. In comparison with the fourth quarter of 2024, the average Composite CPI increased by 0.15% in the first quarter.
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 cover about 50% and 30% of the households, which have an average monthly expenditure of MOP11,000 - MOP35,999 and MOP36,000 - MOP71,999 respectively. Meanwhile, the Composite CPI covers all the abovementioned households; Housing & Fuels, Food & Non-Alcoholic Beverages and Transport accounted for relatively large proportions of household expenditure, with respective weights of 34.47, 29.47 and 8.33.
| Weight and year-on-year changes of the price indices of selected goods and services |
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| Goods and Services | Weight | March 2025 |
First Quarter 2025 |
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| Year-on-Year Change (%) | |||||
| Food & Non-AlcoholicBeverages | 29.47 | 0.48 | 0.68 | ||
| Of which: | Bread & biscuits | 0.86 | 1.68 | 1.92 | |
| Eating out & takeaway | 18.21 | 1.52 | 1.61 | ||
| Rice | 0.31 | 1.50 | 1.14 | ||
| Fruits | 1.25 | -1.25 | 0.52 | ||
| Vegetables | 1.17 | -1.88 | -0.70 | ||
| Fresh, chilled or frozen pork | 1.52 | -3.11 | -3.58 | ||
| Live or fresh fish | 1.13 | -4.05 | -3.40 | ||
| Edible oils & fats | 0.20 | -9.20 | -11.16 | ||
| Transport | 8.33 | -2.77 | -2.67 | ||
| Of which: | Automotive fuels | 1.56 | -2.40 | -1.43 | |
| Passenger transport by air | 0.56 | -15.79 | -9.38 | ||
| Information & Communication | 3.54 | -2.92 | -2.86 | ||
| Of which: | Telecommunications services | 2.46 | -3.48 | -3.48 | |
| Miscellaneous Goods & Services | 7.35 | 1.99 | 2.24 | ||
| Of which: | Jewellery, clocks & watches | 0.41 | 23.85 | 25.43 | |