Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI in February 2018 rose by 3.12% year-on-year to 112.18, the largest year-on-year growth since March 2016, as the Lunar New Year fell in February this year but in January last year. The increment was attributable to dearer charges for eating out, higher charges for package tours during the Lunar New Year Period, rising rentals for dwellings, as well as increasing parking meter rates and prices of women’s clothing.
Among the various sections of goods and services, price indices of Recreation & Culture, Clothing & Footwear, Health and Miscellaneous Goods & Services went up by 10.72%, 5.61%, 4.81% and 4.78% respectively year-on-year, while the index of Communication fell markedly by 11.24%. The CPI-A (112.28) and CPI-B (111.40) rose by 3.10% and 3.30% respectively year-on-year.
The Composite CPI in February 2018 increased by 0.93% month-to-month. Higher charges for package tours and airfares during the Lunar New Year period, rising medical insurance fees and dearer charges for hairdressing services before the Lunar New Year brought up the price indices of Recreation & Culture, Miscellaneous Goods & Services and Transport by 7.05%, 1.77% and 1.75% respectively. In addition, price index of Food & Non-Alcoholic Beverages rose by 1.19% owing to higher charges for eating out and dearer prices of vegetables, fresh fish and seafood. On the other hand, seasonal sale of winter clothing & footwear drove down the price index of Clothing & Footwear by 2.29%. The CPI-A and CPI-B rose by 0.96% and 0.73% respectively month-to-month.
For the 12 months ended February 2018, the average Composite CPI grew by 1.46% from the previous period, with notable increases in the price indices of Education (+5.79%) and Health (+4.64%). The average CPI-A and CPI-B rose by 1.45% and 1.54% respectively over the previous period.
The average Composite CPI for the first two months of 2018 increased by 2.43% year-on-year. The average CPI-A and CPI-B went up by 2.39% and 2.74% 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.