Macau’s composite consumer price index (CPI) rose a mere 1.65 per cent year-on-year last month, a further decrease of 0.43 per centage points from the 2.08 per cent growth in July, the Statistics and Census Bureau (DSEC) said in a statement on Wednesday.
The statement attributed the increase mainly to higher rentals for parking spaces and the rising cost of eating out, as well as increases in property management fees and motorcar prices.
According to the bureau, the price index of food and non-alcoholic beverages that accounted for the largest share of household expenditure showed a continued slowdown in growth, rising “just” 2.09 per cent year-on-year.
On the other hand, the price index of clothing and footwear dropped 3.37 per cent and lower residential rentals drove down the price index of housing and fuels by 0.43 per cent, the first decline recorded since April 2010.
For the 12 months ended last month, the average composite CPI increased 3.20 per cent from the previous period.
The average composite CPI for the first eight months rose 2.83 per cent year-on-year.(Macau News / The Macau Post Daily)
