Education and Household expenses drive Macau Inflation

Consumer prices are rising in Macau, the Statistics and Census Service (DSEC) has confirmed, noting an increase in January of the composite consumer price index (CPI) by 0.77% year-on-year.

The increase was attributed to the higher cost for eating out, rising wages of domestic helpers, increased tuition fees and higher prices for gasoline and vegetables. However, the rise was partially offset by lower house rental prices, reduced charges for telecommunications services and the falling price for liquefied petroleum gas (LGP).

Among the various sections of goods and services, the price indices of education and household furnishings and services rose the most, recording hikes of 10.07% and 7.45% respectively year-on-year. The communications index registered the most significant drop, decreasing 9.14%.

Compared with December 2022, the composite CPI rose 0.24% in January 2023. Higher charges for eating out, together with rising prices for vegetables, fruits, and fresh fish, increased the price index of food and non-alcoholic beverages 0.84%.

Concurrently, the price index of recreation and culture grew 0.71% due to higher prices for fresh flowers and higher hotel room rates. On the other hand, price indices of communications, household furnishings and services, and housing and fuel decreased respectively by 1.06%, 0.45%, and 0.14% month-on-month.

For the 12 months ending January 2023, the average Composite CPI grew 1.02% from the previous period, and the price indices of household furnishings and services (+11.08%) and transport (+5.73%) showed notable growth.