Consumer price index (CPI) for July 2018

Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI in July 2018 increased by 3.33% year-on-year to 113.11, up by 0.22 percentage points from the 3.11% growth in June. The increment in July was attributable to dearer charges for eating out, rising rentals for dwellings, higher parking meter rates and increasing prices of gasoline and adults’ clothing.

Among the various sections of goods and services, price indices of Clothing & Footwear, Transport and Health went up by 7.71%, 6.64% and 4.65% respectively year-on-year, while the index of Communication decreased markedly by 7.92%. The CPI-A (113.24) and CPI-B (111.99) rose by 3.36% and 3.12% respectively year-on-year.

The Composite CPI in July 2018 increased by 0.24% month-to-month. Higher charges for package tours during the summer holidays pushed up the price index of Recreation & Culture by 2.30%. Price indices of Housing & Fuels and Transport both rose by 0.31% on account of rising rentals for dwellings and parking spaces, increasing prices of Liquefied Petroleum Gas and electricity, as well as higher airfares. Meanwhile, price index of Food & Non-Alcoholic Beverages went up by 0.21% due to dearer charges for eating out and higher prices of vegetables and fruits. On the other hand, seasonal sale of adults’ summer clothing drove down the price index of Clothing & Footwear by 0.87%. The CPI-A and CPI-B rose by 0.26% and 0.09% respectively month-to-month.

For the 12 months ended July 2018, the average Composite CPI rose by 2.32% from the previous period, with notable growth in the price indices of Clothing & Footwear (+4.93%), Health (+4.83%) and Education (+4.46%). The average CPI-A and CPI-B increased by 2.32% and 2.31% respectively over the previous period.

The average Composite CPI for the first seven months of 2018 increased by 2.83% year-on-year; the average CPI-A and CPI-B went up by 2.82% and 2.87% 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.

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