Macao’s composite consumer price index (CPI) stood at 105.02 in October, a year-on-year rise of 1.10 percent, according to the Statistics and Census Service (DSEC)’s latest figures. It was 0.16 percent higher than in September.
DSEC attributed the year-on-year increase to restaurant meals, tuition, clothing, and gasoline becoming more expensive. Those price hikes were partially offset by the cost of airfares and rent falling, it noted.
Since October last year, Macao’s education and household furnishings have become notably more expensive: their price indices were up 9.12 and 4.37 percent, respectively.
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On the whole, Macao appears to be keeping its cost of living in check. However, the Macau Federation of Civil Service Workers’ Associations has claimed that real inflation significantly exceeds the official figures.
Several sectors are expecting pay rises next year, in part due to inflation. A recent survey forecast salary growth of between 2.8 and 3.3 percent for Macao in 2024, with frontline workers expected to see the biggest gains.
Macao’s minimum monthly salary, meanwhile, will increase by 6.25 percent from next year.
