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Macao's CPI growth narrows to 3.31 pct in March

Xinhua, April 21, 2016 Adjust font size:

Macao's composite consumer price index (CPI), a main gauge of inflation, grew 3.31 percent in March from a year earlier, further eased by 0.57 percent in February, official data from the statistics agency showed on Thursday.

The Statistics and Census Service (DSEC) of Macao attributed the inflation growth to rising tobacco tax, tuition fees, rentals for parking spaces and prices of motor cars, which drove up the price index of Alcoholic Beverages & Tobacco, Education and Transport by 37.36 percent, 8.97 percent and 7.70 percent respectively.

CPI for March declined by 0.36 percent on monthly basis. Price index of Recreation & Culture and Clothing & Footwear fell by 7.97 percent and 1.96 percent upon lower charges for package tours after the Lunar New Year and seasonal sale of winter clothing. On the other hand, price index of Transport increased by 2.66 percent due to higher rentals for parking spaces and dearer prices of motor cars, yet declining airfares tapered off the increase.

DSEC figure indicated that the average CPI for the first quarter of 2016 increased by 3.67 percent year-on-year, with the price index of Alcoholic Beverages & Tobacco, Education and Transport rising by 38.56 percent, 8.93 percent and 6.72 percent respectively. Endit