Tourist Price Index increased 0.77 percent

Information from the Statistics and Census Service indicated that the average Tourist Price Index (TPI) for 2017 rose by 0.77 percent year-on-year to 131.87; representing a fourth quarter year-on-year increase of 5.59 percent.

Following two consecutive years of decline, the increase can be primarily attributed to rising prices for hotel accommodation and restaurant services, as well as local Chinese food products.

The price indexes of restaurant services and accommodation grew by 5.11 percent and 4.97 percent respectively year-on-year, whereas those of clothing and footwear and transport and communications fell by 7.16 percent and 6.52 percent respectively.

Among the various sections of goods and services, the price index of accommodation (+20.84 percent) recorded notable growth, followed by indexes of transport and communications (+6.83 percent) and restaurant services (+4.09 percent); meanwhile, the price index of clothing and footwear (-4.84 percent) registered a decrease.

In comparison with the previous quarter, TPI for the fourth quarter of 2017 increased by 9.95 percent. The price index of accommodation surged by 40.84 percent due to higher hotel room rates during the National Day holidays, the Macao Grand Prix and Christmas holiday.

Moreover, new arrivals of winter clothing and the elevated prices of airfares drove up the price indexes of clothing and footwear, and transport and communications; by 6.9 percent and 3.99 percent respectively quarter-to-quarter.

The price indexes of miscellaneous goods as well as medicine and personal poods decreased by 0.67 percent and 0.49 percent respectively.