Consumer price index (CPI) for January 2016

Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI increased by 3.81% year-on-year to 107.36 in January 2016, higher than the 3.73% growth in December 2015. The increment was attributable to soaring prices of vegetables, dearer charges for eating out, and rising rentals for dwellings and parking spaces. In comparison with January 2015, notable increase was observed in the price index of Alcoholic Beverages & Tobacco, up by 39.11%. Higher tuition fee, rising wages of domestic helpers and dearer rentals for parking spaces drove up the price index of Education; Household Goods & Furnishings; and Transport by 8.91%, 5.96% and 5.95%. Meanwhile, price index of Clothing & Footwear (-2.23%) and Communication (-1.26%) registered decrease. The CPI-A (107.60) and CPI-B (105.30) rose by 3.92% and 2.87% respectively year-on-year. The Composite CPI for January 2016 rose slightly by 0.04% month-to-month. Price index of Alcoholic Beverages & Tobacco; Health; and Food & Non-Alcoholic Beverages increased by 1.03%, 0.88% and 0.54% on account of dearer prices of tobacco, rising charges for in-patient services and eating out, as well as higher prices of vegetables due to the extreme cold weather. Despite a slowdown in rental growth, management fees for dwellings increased, causing the price index of Housing & Fuels to rise by 0.34%. On the other hand, seasonal sale of winter clothing and lower charges for package tours pushed down the price index of Clothing & Footwear and Recreation & Culture by 2.08% and 1.80%. The CPI-A increased by 0.06% month-to-month while the CPI-B dropped by 0.10%. For the 12 months ended January 2016, the average Composite CPI increased by 4.48% from the previous period. Price index of Alcoholic Beverages & Tobacco (+20.55%) and Housing & Fuels (+7.39%) showed marked increase. The average CPI-A and CPI-B increased by 4.76% and 3.55% respectively over the previous period. 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.