Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI (102.21) for August 2020 edged up by 0.03% year-on-year, the lowest growth recorded since November 2009, which also represented a drop of 0.24 percentage points from the year-on-year growth of July 2020 (+0.27%). The increment in August was attributable to higher prices of fresh pork, increasing charges for eating out and outpatient services, as well as rising rentals for dwellings.
Among the various sections of goods and services, price indices of Education and Health went up by 5.15% and 3.72% year-on-year respectively, whereas the indices of Recreation & Culture and Communication fell markedly by 12.10% and 11.28%. The CPI-A (102.33) grew by 0.17% year-on-year while the CPI-B (102.04) dropped by 0.31%.
The Composite CPI for August 2020 increased by 0.06% month-to-month. Price index of Transport rose by 0.55% owing to higher airfares and growing charges for maintenance & repair of motor cars. On the other hand, seasonal sales of adults’ clothing and footwear dragged down the price index of Clothing & Footwear by 0.95%. The CPI-A and CPI-B went up by 0.07% and 0.05% month-to-month respectively.
For the 12 months ended August 2020, the average Composite CPI rose by 1.96% from the previous period (September 2018 to August 2019), with notable growth in the price indices of Education (+5.17%), Food & Non-Alcoholic Beverages (+4.73%) and Health (+4.58%). The average CPI-A and CPI-B increased by 2.00% and 2.10% respectively over the previous period.
The average Composite CPI for the first eight months of 2020 rose by 1.59% year-on-year. The average CPI-A and CPI-B grew by 1.69% and 1.45% 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.
