Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI (101.83) for November 2020 dropped by 0.88% year-on-year, which was attributed to lower charges for package tours, communication services and electricity, as well as reduced prices of gasoline, fresh pork, clothing and footwear.
Among the various sections of goods and services, price indices of Communication and Clothing & Footwear fell by 13.35% and 7.42% year-on-year respectively, whereas the indices of Health and Household Furnishings & Services increased by 2.54% and 2.33%. The CPI-A (101.94) and CPI-B (101.68) saw respective decreases of 0.83% and 0.94% year-on-year.
The Composite CPI for November 2020 went down by 0.08% month-to-month. Lower airfares and receding prices of pet products pushed down the price indices of Transport and Recreation & Culture by 0.23% and 0.21% respectively. Price index of Food & Non-Alcoholic Beverages dropped by 0.12% due to retreating prices of fresh pork and vegetables. On the other hand, higher prices of men’s footwear and women’s clothing drove up the price index of Footwear & Clothing by 0.15%. The CPI-A and CPI-B decreased by 0.08% and 0.07% month-to-month respectively.
For the 12 months ended November 2020, the average Composite CPI rose by 1.10% from the previous period (December 2018 to November 2019). Price indices of Health (+4.19%), Education (+3.93%) and Food & Non-Alcoholic Beverages (+3.77%) registered notable growth. The average CPI-A and CPI-B went up by 1.18% and 1.00% respectively over the previous period.
The average Composite CPI for the first eleven months of 2020 increased by 0.97% year-on-year. The average CPI-A and CPI-B grew by 1.06% and 0.82% respectively.
The Composite CPI reflects the impact of price changes on the general households in Macao. The CPI-A relates to about 50% of the households, which have an average monthly expenditure of MOP12,000 to MOP35,999. The CPI-B relates to about 30% of the households, which have an average monthly expenditure of MOP36,000 to MOP62,999.
