TPI in Q2 rises by 19%

The Tourist Price Index (TPI) for the second quarter of 2023 rose by 19.47% year-on-year to 137.24, according to data from the Statistics and Census Service (DSEC). The increase is mainly attributable to rising hotel room rates and higher prices of local food products. Among the various sections of goods and services, the price index of Accommodation soared by 150.74% year-on-year, and the indices of Entertainment & Cultural Activities (+17.06%) and Clothing & Footwear (+7.07%) also increased. The average TPI for the last four quarters ended the second quarter of 2023 rose by 9.14% from the previous period.