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Macao's CPI in June drops to 6-year low at 2.26 pct

Xinhua, July 21, 2016 Adjust font size:

Macao's composite consumer prices index (CPI), a main gauge of inflation, increased 2.26 percent on an annual basis in June, according to Macao's statistics agency on Thursday.

The inflation rate for June further narrowed by 0.38 percentage points from the 2.64 percent growth in May, touching the lowest level since March 2010, according to Macao's Statistics and Census Service (DSEC).

Analysis indicated that the increment was attributable to higher rentals for parking spaces, rising charges for eating out and dearer prices of tobacco.

Among various sections of goods and services, price index of Alcoholic Beverages & Tobacco, Education and Transport rose by 47.16 percent, 8.90 percent and 6.34 percent, respectively.

Price index of Food & Non-Alcoholic Beverages and Housing & Fuels that accounted for the largest shares of household expenditure showed continuous decline in growth, rising by 2.57 percent and 0.61 percent respectively year-on-year.

The average CPI for the first half of 2016 increased by 3.15 percent from the previous year, the DSEC said. Endit