Consumer prices rise in new academic year

The Composite Consumer Price Index (CPI) for September 2019 increased by 2.73% year-on-year to 116.64, according to the latest data from the Statistics and Census Service (DSEC).
The rise marks a slowdown of 0.1 percentage points from the 2.83% year-on-year growth seen in August. Nevertheless, according to DSEC, the September increment was attributable to higher charges for eating out, rising rentals for dwellings and higher prices of fresh pork.
Among the various sections of goods and services, the price indexes of education surged 5.25%, while that of food and non-alcoholic beverages grew 4.41% year-on-year. The price index of communication dropped by 2.56% in the same period.
In month-to-month terms, the Composite CPI for September rose 0.2% on account of higher tuition fees in the new academic year and the growing prices of fresh pork. On the other hand, lower charges for package tours and the seasonal sale of women’s summer clothing pushed down the price index of recreation and culture by 3.25% and clothing and footwear by 1.29%, respectively.
Meanwhile, the average Composite CPI for the third quarter of 2019 increased by 2.72% year-on-year to 116.37.
The Composite CPI reflects the impact of price changes on the general households in Macau and is a key indicator of inflation. DB