TPI drops 15% y-o-y
The Tourist Price Index (TPI) for the first quarter of 2021 fell by 15.16% year-on-year to 115.78, on account of lower hotel room rates, reduced prices of local food products and falling airfares. Among the various goods and services sectors, the price index for Accommodation tumbled by 55.09% year-on-year, according to the Statistics and Census Service.
The average TPI for four quarters concluding with the first quarter of 2021 was down 11.83% from the previous period, of which the price index for Accommodation fell significantly by 42.55%. LV
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