Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for July 2023 (104.76) grew by 0.78% year-on-year. The increment was attributed to higher charges for eating out and package tours, rising tuition fees, 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, the price indices of Education, Recreation & Culture and Clothing & Footwear climbed by 9.98%, 6.80% and 5.07% year-on-year respectively, whereas the indices of Transport and Housing & Fuels dropped by 4.38% and 1.74% respectively. The CPI-A (104.25) and CPI-B (105.43) recorded respective growth of 0.55% and 1.08 year-on-year.

In comparison with June, the Composite CPI rose by 0.06% in July. Higher charges for package tours pushed up the price index of Recreation & Culture by 1.29%. Price indices of Alcoholic Beverages & Tobacco and Miscellaneous Goods & Services showed respective increases of 0.26% and 0.17%. The price index of Food & Non-Alcoholic Beverages edged up by 0.03% as falling prices of fruits and vegetables tempered the effect of the rise in eating out charges and edible oil prices. On the other hand, the price indices of Clothing & Footwear and Transport fell by 0.34% and 0.10% respectively. The CPI-A and CPI-B went up by 0.07% and 0.05% month-on-month respectively.

For the 12 months ended July 2023, the average Composite CPI grew by 0.88% from the previous period, and the price indices of Education (+9.31%) and Household Furnishings & Services (+7.53%) showed notable growth. The average CPI-A and CPI-B increased by 0.60% and 1.25% respectively over the previous period.

The average Composite CPI for the first seven months of 2023 rose by 0.82% year-on-year. The average CPI-A and CPI-B went up by 0.58% and 1.13% 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.