Inflation rate reaches 3 percent in 2018

Macau’s composite consumer price index (CPI) in December 2018 increased by 2.94 percent year- on-year to 114.35, with its inflation rate for 2018 reaching 3 percent, up by 1.78 percentage points from 1.23 percent in 2017, the Statistics and Census Service (DSEC) announced yesterday.

DSEC added that the year-on- year growth in December 2018 was attributable to dearer charges for eating out, rising rental costs for dwellings, and higher parking meter rates, as well as increasing prices of adults’ clothing.

Among the various sections of goods and services, the price indixes of clothing and footwear and of education grew notably by 6 percent and 5.95 percent respectively year-on-year, while the index of communication decreased by 6.85 percent.

For 2018, the average composite CPI increased by 3.01 percent year-on-year to 112.85. As well as the effect of eating out expenses, rental costs, clothing expenses, and rising parking meter rates, the increase was driven by rising tuition fees and the increased price of gasoline.

Analyzed by section, the price indixes of clothing and footwear (6.57 percent), transport (5.32 percent), health (4.80 percent) and education (4.76 percent) registered notable growth, while those of communication, alcoholic beverages and tobacco dropped by 8.48 percent and 0.08 percent respectively.