The Tourist Price Index (TPI) for the fourth quarter of 2019 decreased by 0.22% year-on-year to 139.50, according to the latest data from the Statistics and Census Service, owing to lower hotel room rates and falling prices of handbags and clothing.
Among the various bundles of goods and services, the price indexes of clothing and footwear (-5.87%) and accommodation (-2.39%) dropped significantly, while the indexes for food, alcoholic beverages and tobacco (+3.04%), entertainment and cultural activities (+3.02%), miscellaneous goods (+2.59%) and restaurant services (+2.29%) all saw year-on-year increases.
In comparison with the previous quarter, the TPI for the fourth quarter of 2019 increased by 7.36%. The price index for accommodation surged by 27.71% due to higher hotel room rates during the National Day holidays, the Macau Grand Prix and Christmas holidays.
Moreover, new arrivals of winter clothing pushed up the price index of clothing and footwear by 7.84% quarter-to-quarter.
The average TPI for the whole year of 2019 went down by 0.37% year-on-year to 133.85. The decrease was mainly attributable to receding hotel room rates across the whole year compared with 2018 and falling prices of handbags and ladies’ clothing. Meanwhile, higher charges for restaurant services and local food products offset some of the decrease.
Analyzed by bundles of goods and services, price indexes of clothing and footwear (-5.31%) and accommodation (-2.5%) declined notably year-on-year, whereas the indexes of entertainment and cultural activities (+3.17%) and food, alcoholic beverages and tobacco (+2.83%) showed relatively strong growth. JZ