Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI in August 2017 increased by 1.36% year-on-year to 109.57, the highest year-on-year growth since January 2017. The increment in August was attributable to rising tuition fees, dearer prices of adults’ footwear and gasoline, as well as higher charges for eating out and outpatient services.
Among the various sections of goods and services, price indices of Education and Health grew by 7.49% and 5.30% respectively year-on-year, and price index of Food & Non-Alcoholic Beverages that accounted for the largest share of household expenditure went up by 1.84%. Meanwhile, price indices of Communication and Housing & Fuels dropped by 5.86% and 0.67% respectively. The CPI-A (109.67) and CPI-B (108.74) rose by 1.38% and 1.21% respectively year-on-year.
The Composite CPI in August 2017 increased by 0.09% month-to-month. Higher charges for package tours and airfares during summer holidays and rising gasoline prices pushed up the price indices of Recreation & Culture and Transport by 1.06% and 0.70% respectively month-to-month. Price index of Food & Non-Alcoholic Beverages edged up by 0.06% owing to dearer charges for eating out, yet receding prices of fresh fish and seafood tapered off part of the increment. On the other hand, price indices of Clothing & Footwear and Housing & Fuels decreased by 0.76% and 0.05% respectively on account of seasonal sale of summer clothing and lower prices of Liquefied Petroleum Gas. The CPI-A and CPI-B rose by 0.09% and 0.12% respectively month-to-month.
For the 12 months ended August 2017, the average Composite CPI went up by 1.16% from the previous period, with notable increase in the price indices of Education (+7.43%), Alcoholic Beverages & Tobacco (+5.51%) and Transport (+4.99%). The average CPI-A and CPI-B rose by 1.09% and 1.76% respectively over the previous period.
The average Composite CPI for the first eight months of 2017 rose by 1.01% year-on-year; the average CPI-A and CPI-B increased by 0.97% and 1.33% respectively.
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.