Macao continues to withstand inflationary pressure, according to the latest data Link copied
The consumer price index barely moved between March and April, with lower rents helping to offset any increases in the price of consumer goods.
Macao’s composite consumer price index for April rose by just 0.15 percent from March, and 0.85 percent year on year, to stand at 104.43.
According to the latest information from the Statistics and Census Service (DSEC), the increase was due to the higher cost of eating out, tuition, some fresh produce, and petrol, as well as increases in the wages of domestic helpers and hotel room rates.
Notably, the price indices of education, and household furnishings and services, rose by 9.99 percent and 4.68 percent respectively year-on-year. The index of housing and fuels dropped by 1.97%.
[See more: The worst of Macao’s economic crisis is over, the finance secretary says]
The DSEC said that price rises in Macao were partially offset by lower rentals for residential property and reduced airfares.
With high interest rates acting as a restraint, Macao currently enjoys some of the lowest inflation in the world.
In March, global credit and ratings agency Fitch praised what it called the “the territory’s exceptionally strong public and external finances, and prudent fiscal management even during periods of negative revenue shocks”.