Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI (127.85) for January 2014 increased by 6.35% year-on-year, under the influence of the Lunar New Year that falls in January this year, while in 2013, Lunar New Year falls in February. Increase in the Composite CPI was attributable to higher rentals for dwellings, as well as rising charges for eating out and hairdressing services.
In comparison with January 2013, notable increase was observed in the price index of Housing & Fuels (+11.26%); Recreation & Culture (+8.18%); and Food & Non-Alcoholic Beverages (+6.73%) on account of higher rentals, rising charges for eating out and package tours, as well as general increase in the prices of fresh food and produce during the Lunar New Year period. On the contrary, price index of Communication decreased by 1.62%. The CPI-A (128.25) and CPI-B (128.31) increased by 6.93% and 6.30% respectively year-on-year.
The Composite CPI for January 2014 increased by 0.77% month-to-month. Price index of Miscellaneous Goods & Services and Recreation & Culture rose by 2.69% and 1.72% month-to-month due to higher charges for hairdressing services and package tours. Meanwhile, seasonal sale of winter clothing pushed down the price index of Clothing & Footwear by 1.65%. The CPI-A and CPI-B increased by 0.86% and 0.77% respectively month-to-month.
For the 12 months ended January 2014, the average Composite CPI increased by 5.61% from the previous period. Price index of Housing & Fuels (+10.05%); Food & Non-Alcoholic Beverages (+6.64%); and Health (+6.31%) registered remarkable increase, while price index of Communication and Education decreased by 2.33% and 0.97% respectively. The average CPI-A and CPI-B rose by 6.20% and 5.50% respectively.
The 2008/2009-based Composite CPI reflects the impact of price changes on the general population. The CPI-A relates to about 50% of the households, which have an average monthly expenditure of MOP6,000 to MOP18,999. The CPI-B relates to about 30% of the households, which have an average monthly expenditure of MOP19,000 to MOP34,999.
