Economy | Tourist prices edge up in Q1 on rising food costs

The city’s tourist price index edged up 0.72% year-on-year to 137.92 during the first quarter of 2019. This is attributable to dearer prices of local food products and higher charges for hotel accommodation and restaurant services, according to the Statistics and Census Service (DSEC).

Among the various sections of goods and services, the price index of entertainment and cultural activities grew by nearly 4% year-on-year due to the rising prices of Lunar New Year-related leisure goods, such as fireworks and firecrackers.

Meanwhile, the price index for accommodation rose by 3.73% year-on-year and the index for food, alcoholic beverages and tobacco grew 3.28%. However, the index for clothing and footwear dropped nearly 7% year-on-year.

Compared to the fourth quarter of 2018, tourist prices in the first quarter of this year dropped by about 1.35%, led by declines in clothing, footwear and accommodation.

The tourist price index reflects the change in prices of goods and services purchased by visitors. Sections of tourist goods and services are selected for the index in order to gain a better understanding of visitors’ consumption patterns. DB

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