Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the third quarter of 2016 decreased by 3.50% year-on-year to 126.86, a notable slowdown from the drop in the second quarter (-7.00%). The decline was attributable to lower charges for hotel accommodation and reduced prices of airfares that pushed down the price index of Accommodation and Transport & Communications by 15.45% and 14.45% respectively year-on-year. Meanwhile, price index of Miscellaneous Goods and Restaurant Services rose by 4.36% and 2.17% respectively. In comparison with the previous quarter, TPI for the third quarter of 2016 increased by 1.33%, as higher hotel room rates during the summer holidays drove up the price index of Accommodation by 13.23%. On the other hand, price index of Clothing & Footwear dropped by 7.19% quarter-to-quarter due to seasonal sale of handbags and summer clothing. The average TPI for the last four quarters ended the third quarter of 2016 decreased by 5.05% from the previous period, with marked decline being observed in the price index of Accommodation (-19.44%) and Transport & Communications (-6.29%); however, price index of Food, Alcoholic Drinks & Tobacco increased by 2.56%. For the first three quarters of 2016, TPI went down by 5.77% year-on-year, with notable decrease in the price index of Accommodation and Transport & Communications, falling by 23.06% and 7.71% respectively. TPI reflects the price change of goods and services purchased by visitors. Sections of TPI goods and services are selected according to the consumption pattern of visitors, namely Food, Alcoholic Beverages & Tobacco; Clothing & Footwear; Accommodation; Restaurant Services; Transport & Communications; Medicine & Personal Goods; Entertainment & Cultural Activities; and Miscellaneous Goods.
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