Tourist price index (TPI) for the 3rd quarter of 2021

Information from the Statistics and Census Service (DSEC) indicated that the Tourist Price Index (TPI) for the third quarter of 2021 increased by 1.26% year-on-year to 116.58. The growth was mainly attributable to rising charges for restaurant services and dearer prices of local food products; yet, lower hotel room rates and airfares offset part of the increase. Among the various sections of goods and services, price indices of Restaurant Services (+10.68%) and Food, Alcoholic Beverages & Tobacco (+7.01%) showed notable year-on-year rise, whereas the indices of Accommodation (-8.99%) and Transport & Communications (-7.16%) dropped.

In comparison with the previous quarter, TPI for the third quarter of 2021 went down by 0.30%. Price indices of Clothing & Footwear and Food, Alcoholic Beverages & Tobacco decreased by 10.96% and 4.01% respectively, on account of seasonal sale of summer clothing and lower prices of local food products. On the other hand, higher hotel room rates pushed up the price index of Accommodation by 13.26% quarter-to-quarter.

The average TPI for the last four quarters ended the third quarter of 2021 dropped by 8.83% from the previous period. Price indices of Accommodation and Transport & Communications declined by 41.28% and 8.29% respectively, whereas the index of Restaurant Services increased by 3.06%. For the first three quarters of 2021, TPI went down by 6.43% year-on-year, with marked decrease in price indices of Accommodation (-36.95%) and Transport & Communications (-9.46%); meanwhile, price index of Restaurant Services (+4.82%) registered growth.

TPI reflects the price change of goods and services purchased by visitors. Sections of TPI goods and services are selected according to the consumption pattern of visitors, namely Food, Alcoholic Beverages & Tobacco; Clothing & Footwear; Accommodation; Restaurant Services; Transport & Communications; Medicine & Personal Goods; Entertainment & Cultural Activities; and Miscellaneous Goods.

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