Macao's Tourist Price Index growth in Q1 hits 6 years' low

The growth rate of Macao's Tourist Price Index (TPI) for the first quarter of 2015 almost fell to the record low in six years, according to figures released Thursday by Macao's Statistics and Census Service (DSEC).

Macao's TPI in the first three months of 2015 reached 146.19, rising by 1.51 percent compared to the same period of 2014, in which restaurant services, handbags and food gifts account for most of the increase.

The DSEC figures indicated that the price index of catering, clothing and footwear, entertainment and culture enjoyed a certain rise of 7.86 percent, 5.49 percent, and 5.18 percent year-on-year respectively, while the accommodation saw a drop of 4.33 percent on account of lower lodgings price of three-star and four-star hotels.

Compared with the last quarter of 2014, the TPI for this quarter went up by 0.33 percent quarter-to-quarter, of which the price index of accommodation, entertainment and culture went up 3. 77 percent and 2.88 percent, respectively, said the statistics done by DSEC.

The TPI reflects changes in the prices of goods and services purchased by visitors, which is compiled according to the consumption pattern of visitors, including transport and communications, food, alcoholic drinks and tobacco and restaurant service, accommodation, entertainment and culture and sundry items. Endi