Tourists pay more for goods and services

The Tourist Price Index (TPI) for the third quarter of 2014 increased by 4.89 percent year-on-year to 135.14. The Statistics and Census Service (DSEC) attributes the increase to higher charges for hotel accommodation and restaurant services, as well as higher prices of clothing and handbags.  Notable increases were observed in the price index of the sections “Clothing & Footwear” (+8.85 pct), “Restaurant Services” (+7.97 pct), and “Accommodation” (+6.29 pct). On the contrary, price index of “Transport & Communications” decreased by 4.60% year-on-year. DSEC also revealed yesterday that TPI for the third quarter of 2014 increased by 1.21% quarter-to-quarter, of which the price index of “Restaurant Services” and “Accommodation” rose by 3.46% and 3.29% respectively. The 2009/2010-based TPI reflects the price change of goods and services purchased by visitors. According to DSEC, sections of TPI goods and services are selected according to the consumption pattern of tourists.