Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI (116.05) for July 2019 increased by 2.60% year-on-year, a further slowdown of 0.02 percentage points from the growth in June (+2.62%). The increment in July was attributable to dearer charges for eating out, rising rentals for dwellings and higher prices of motor cars, gasoline and fresh pork.
Among the various sections of goods and services, price indices of Education and Transport grew notably by 5.81% and 5.09% respectively year-on-year, whereas the indices of Communication and Clothing & Footwear dropped by 2.45% and 1.25%. The CPI-A (116.08) and CPI-B (115.85) saw respective increases of 2.50% and 3.45% year-on-year.
The Composite CPI for July 2019 rose by 0.22% month-to-month. Higher charges for package tours and increases in airfares and gasoline prices pushed up the price indices of Recreation & Culture and Transport by 1.55% and 0.62% respectively. Price index of Food & Non-Alcoholic Beverages went up by 0.47% owing to dearer prices of fresh pork and vegetables as well as rising charges for eating out. On the other hand, lower charges for telecommunication services and summer sales of adults’ clothing drove down the price indices of Communication and Clothing & Footwear markedly by 1.81% and 0.72% respectively. The CPI-A and CPI-B grew by 0.21% and 0.30% respectively month-to-month.
For the 12 months ended July 2019, the average Composite CPI rose by 2.96% from the previous period, with notable growth in the price indices of Education (+5.75%) and Transport (+5.30%). The average CPI-A and CPI-B grew by 2.95% and 3.08% respectively over the previous period.
The average Composite CPI for the first seven months of 2019 increased by 2.76% year-on-year. The average CPI-A and CPI-B rose by 2.71% and 3.20% 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.