Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for February 2016 increased by 3.88% year-on-year to 108.39, slightly higher than the 3.81% growth in January. The increment was attributable to higher charges for eating out, rising rentals for parking spaces and dwellings, and dearer prices of vegetables. In comparison with February 2015, notable increase (+39.20%) was observed in the price index of Alcoholic Beverages & Tobacco on account of tobacco tax hike. Higher tuition fees and rising rentals for parking spaces drove up the price index of Education and Transport by 8.92% and 6.50%. Meanwhile, price index of Clothing & Footwear (-3.44%) and Communication (-1.39%) registered decrease. The CPI-A (108.63) and CPI-B (106.36) rose by 3.97% and 3.14% respectively year-on-year. The Composite CPI for February 2016 increased by 0.96% month-to-month. Soaring charges for package tours during the Lunar New Year period drove up the price index of Recreation & Culture by 8.47%. Meanwhile, price index of Food & Non-Alcoholic Beverages rose by 1.86% on account of rising charges for eating out, as well as general increase in prices of vegetables, seafood and fruits due to the extreme cold weather and pre-festive season effect. Moreover, price index of Transport increased by 1.13% owing to higher prices of motor cars and airfare; yet, declining gasoline prices tapered off the increase. On the other hand, seasonal sale of winter clothing and footwear pushed down the price index of Clothing & Footwear by 2.43%. The CPI-A and CPI-B increased by 0.96% and 1.00% respectively month-to-month. For the 12 months ended February 2016, the average Composite CPI increased by 4.36% from the previous period. Price index of Alcoholic Beverages & Tobacco (+23.77%) and Housing & Fuels (+6.76%) showed marked increase. The average CPI-A and CPI-B increased by 4.63% and 3.42% respectively over the previous period. The average Composite CPI for the first two months of 2016 increased by 3.85% year-on-year, with the price index of Alcoholic Beverages & Tobacco and Education rising by 39.16% and 8.91% respectively. The average CPI-A and CPI-B increased by 3.95% and 3.01% respectively. The Composite CPI reflects the impact of price changes on the general households. The CPI-A relates to about 50% of the households, which have an average monthly expenditure of MOP10,000 to MOP29,999. The CPI-B relates to about 30% of the households, which have an average monthly expenditure of MOP30,000 to MOP54,999.
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