MACAO: Macao’s composite consumer price index (CPI), a main gauge of inflation, increased by 3.88 percent in February, slightly higher than the 3.81 percent rise from a month earlier, official data from the statistics agency showed on Monday.
Macao’s Statistics and Census Service (DSEC) indicated that the growth was mainly due to rising prices of of vegetables and eating out, higher rentals for parking spaces and dwellings.
On account of tobacco tax hike, price index of Alcoholic Beverages & Tobacco registered a notable increase of 39.20 percent on yearly basis. Higher tuition fees and rising rentals for parking spaces drove up the price index of Education and Transport by 8.92 percent and 6.50 percent. While the price index of Clothing & Footwear (-3.44 percent) and Communication (-1.39 percent) saw decrease, DSEC said.
According to DSEC, Macao’s CPI for February increased by 0.96 month-to-month. Soaring charges for package tours during the Lunar New Year holiday drove up the price index of Recreation & Culture by 8.47 percent. Food & Non-Alcoholic Beverages rose by 1.86 percent on account of rising charges for eating out, as well as general increase in prices of vegetables, seafood and fruits due to the extreme cold weather. Seasonal sale of winter clothing and footwear pushed down the price index of Clothing & Footwear by 2.43 percent.
