Inflation accelerates for the first time in six months

Inflation in the city accelerated in January, mainly due to the rising cost of meals purchased outside the home during the Lunar New Year.

The Consumer Price Index (CPI) in Macau rose by 0.57% year-on-year in January and increased by 0.17% compared to December, according to official data released by the Statistics and Census Bureau (DSEC).

In December, the CPI had increased by 0.23% year-on-year and declined by 0.01% compared to November.

In December, Macau came close to experiencing deflation for the first time since June 2021, when the city endured its last of ten consecutive months of declining consumer prices during the peak of the pandemic’s economic crisis.

In a statement, DSEC attributed the acceleration to a 0.88% rise in the food and non-alcoholic beverages sector.

Macau also recorded a 10.1% jump in airfare prices and a 17.4% increase in the cost of excursions and hotel stays abroad.

Spending on apartment mortgages rose by 0.36%, despite the housing price index falling by 11.7% last year and the Macau Monetary Authority approving three interest rate cuts in the last three months of 2024.

Official data also show that healthcare services became 1.1% more expensive, and the cost of insurance rose by 2.47%. Staff Reporter