Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI (108.86) for December 2016 increased by 1.44% year-on-year, down by 0.09 percentage points from the 1.53% growth in November. The inflation rate for 2016 stood at 2.37%, down further from 4.56% in 2015.
Among the various sections of goods and services, price index of Food & Non-Alcoholic Beverages that accounted for the largest share of household expenditure went up by 1.85% year-on-year. Price indices of Alcoholic Beverages & Tobacco (+7.92%), Education (+7.38%) and Transport (+6.69%) also increased. On the other hand, price indices of Communication, Housing & Fuels and Recreation & Culture decreased by 1.92%, 1.45% and 0.39% respectively. The CPI-A (108.97) and CPI-B (107.96) rose by 1.33% and 2.42% respectively year-on-year.
The Composite CPI for December 2016 rose by 0.17% month-to-month. Price indices of Clothing & Footwear, Recreation & Culture and Transport increased by 3.00%, 1.41% and 0.81% respectively on account of new arrival of winter clothing and footwear, higher charges for package tours, rising airfares and gasoline prices. On the other hand, lower prices of gold jewellery and alcoholic beverages drove down the price indices of Miscellaneous Goods & Services and Alcoholic Beverages & Tobacco by 0.80% and 0.62% respectively. Moreover, price index of Food & Non-Alcoholic Beverages dropped by 0.17% owing to receding prices of vegetables and fruits. The CPI-A and CPI-B rose by 0.19% and 0.01% respectively month-to-month.
The average Composite CPI for the fourth quarter of 2016 (108.63) increased by 1.43% year-on-year and 0.39% quarter-to-quarter; the average CPI-A and CPI-B rose by 1.30% and 2.59% respectively year-on-year.
For the whole year of 2016, the average Composite CPI was 108.23, up by 2.37% as compared with 2015. Higher Rising rentals for parking spacesspaces, dearer charges for eating out, rising prices of motor cars and cigarettes, as well as increases in property management fees together pushed up the annual inflation rate by 1.77 percentage points. Price indices of Alcoholic Beverages & Tobacco (+21.73%), Education (+8.39%) and Transport (+6.99%) registered notable increase, while those of Clothing & Footwear and Communication decreased by 2.33% and 0.90% respectively. The average CPI-A (108.35) and CPI-B (107.20) for 2016 went up by 2.30% and 2.98% respectively year-on-year.
The Composite CPI reflects the impact of price changes on the general households in Macao. 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.