Information from the Statistics and Census Service indicated that the Tourist Price Index (TPI) for the fourth quarter of 2008 was 145.19, up by 6.48% year-on-year. The price indices of Restaurant Service; Food, Alcoholic Drinks & Tobacco; and Clothing & Footwear surged significantly by 13.53%, 11.66% and 11.08% respectively, which was attributable to rising charges of restaurant service and dearer prices of alcoholic beverages, tobacco and pastries, as well as the general increase of the prices of men’s and ladies’ clothing. On the contrary, the price index of Accommodation registered a year-on-year decrease of 5.85% as a result of lower hotel room rates. Compared with the third quarter of 2008, TPI rose by 1.03% in this quarter. On account of higher hotel room rates during the National Day holidays, the Macao Grand Prix and Christmas holiday period, the price index of Accommodation soared by 20.35%. On the contrary, the price indices of Clothing & Footwear; and Miscellaneous Goods fell by 6.75% and 3.46% respectively. The average TPI for 2008 increased by 11.13% over 2007, with marked increase in the indices of Miscellaneous Goods (+22.45%), Restaurant Service (+14.72%) and Clothing & Footwear (+10.33%). TPI reflects the price changes of goods and services purchased by visitors, which is compiled based on the consumption pattern of visitors. TPI covers eight sections of goods and services, namely Food, Alcoholic Drinks & Tobacco; Clothing & Footwear; Accommodation; Restaurant Service; Transport & Communications; Medicine & Personal Goods; Entertainment & Culture; and Miscellaneous Goods. The base year of TPI is from July 1999 to June 2000.
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