Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for May 2023 (104.57) grew by 0.90% year-on-year. The increment was attributed to dearer charges for eating out, rising tuition fees and wages of domestic helpers, as well as increases in hotel room rates and clothing prices; yet, the rise was partially offset by lower rentals for dwellings and reduced airfares. Among the various sections of goods and services, price indices of Education and Recreation & Culture rose by 9.99% and 5.28% year-on-year respectively, whereas the indices of Transport and Housing & Fuels dropped by 3.36% and 1.88% respectively. The CPI-A (104.07) and CPI-B (105.24) saw respective growth of 0.66% and 1.22% year-on-year.

In comparison with April, the Composite CPI rose by 0.14% in May. Price indices of Recreation & Culture, Clothing & Footwear and Health went up by 1.40%, 0.78% and 0.75% respectively. Price index of Food & Non-Alcoholic Beverages climbed by 0.38% on account of rising charges for eating out and dearer prices of fruits and fresh fish; however, the growth was partly tapered off by a drop in vegetable prices. On the other hand, lower airfares and falling prices of alcoholic beverages pushed the price indices of Transport and Alcoholic Beverages & Tobacco down by 1.34% and 0.35% respectively. The CPI-A and CPI-B increased by 0.13% and 0.15% month-on-month respectively.

For the 12 months ended May 2023, the average Composite CPI grew by 0.97% from the previous period, and the price indices of Household Furnishings & Services (+9.38%), Education (+7.89%) and Transport (+3.05%) showed notable growth. The average CPI-A and CPI-B increased by 0.67% and 1.37% respectively over the previous period.

The average Composite CPI for the first five months of 2023 rose by 0.83% year-on-year. The average CPI-A and CPI-B went up by 0.59% and 1.15% respectively.

DSEC compiles three separate CPI series to reflect the impact of price changes for goods/services on households of different expenditure ranges. The CPI-A and CPI-B relate to about 50% and 30% of the households, which have an average monthly expenditure of MOP12,000-MOP35,999 and MOP36,000-MOP62,999 respectively; meanwhile, the Composite CPI relates to all the above-mentioned households.