Macao inflation rate reaches 3.01 pct in 2018

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MACAO, Jan. 22 (Xinhua) -- Macao's composite consumer price index (CPI) in December 2018 increased by 2.94 percent year-on-year to 114.35, with its inflation rate for 2018 reaching 3.01 percent, the special administrative region (SAR)'s statistic department said on Tuesday.

The latest report from the Statistics and Census Service (DSEC) showed that the composite CPI in December increased by 2.94 percent, a slowdown of 0.18 percentage points from the 3.12 percent growth in November. The inflation rate for 2018 was 3.01 percent, up by 1.78 percentage points from 1.23 percent in 2017.

Among the various sections of goods and services, price indices of clothing and footwear, and education grew notably by 6.00 percent and 5.95 percent respectively year-on-year, while the index of communication decreased by 6.85 percent.

The report added that the year-on-year growth in December 2018 was attributable to dearer charges for eating out, rising rentals for dwellings, higher parking meter rates as well as increasing prices of adults' clothing.

Analyzed by section, price indices of clothing and footwear (6.57 percent), transport (5.32 percent), health (4.400 percent) and education (4.76 percent) registered notable growth, while those of communication, alcoholic beverages and tobacco dropped by 8.48 percent and 0.08 percent respectively.

For 2018, the average composite CPI increased by 3.01 percent year-on-year to 112.85. The increment was driven by dearer charges for eating out, higher rentals for dwellings, rising parking meter rates and tuition fees, as well as increasing prices of adults' clothing and gasoline.