Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for March 2023 (104.28) grew by 0.86% year-on-year. The increment was attributed to higher charges for eating out, rising wages of domestic helpers, increased tuition fees, as well as dearer fruit prices and hotel room rates; 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 Household Furnishings & Services rose by 9.99% and 6.33% year-on-year respectively, whereas the indices of Housing & Fuels and Communication dropped by 1.69% and 1.53% respectively. The CPI-A (103.81) and CPI-B (104.89) saw respective growth of 0.62% and 1.18% year-on-year.

In comparison with February, the Composite CPI rose by 0.08% in March. Higher hotel room rates pushed up the price index of Recreation & Culture by 2.18%. Despite receding prices of vegetables, price index of Food & Non-Alcoholic Beverages grew slightly by 0.07% owing to dearer charges for eating out, coupled with rising prices of bread and biscuits. On the other hand, price indices of Household Furnishings & Services, Transport and Housing & Fuels recorded respective decreases of 0.28%, 0.20% and 0.13%. The CPI-A and CPI-B went up by 0.04% and 0.12% month-on-month respectively.

For the 12 months ended March 2023, the average Composite CPI grew by 1.00% from the previous period, and the price indices of Household Furnishings & Services (+10.48%), Education (+6.45%) and Transport (+4.71%) showed notable growth. The average CPI-A and CPI-B increased by 0.69% and 1.42% respectively over the previous period.

The average Composite CPI for the first quarter of 2023 (104.19) went up by 0.80% year-on-year; the average CPI-A (103.75) and CPI-B (104.78) rose by 0.56% and 1.12% 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.