Macao’s Composite Consumer Price Index (CPI) rose 1.04 per cent year-on-year in 2022, the Statistics and Census Bureau has announced.
According to the bureau, last year’s increase was driven by domestic helpers’ higher wages, the increasing cost of eating out and electricity, as well as rising prices of petrol and fruit.
The CPI growth was partially offset by lower rentals for residential units, falling charges for telecommunications services and falling prices of pork.
The bureau pointed out that the price indices of Household Furnishings & Services (+11.23 per cent) and Transport (+5.84 per cent) rose notably, while the Communication index fell 9.39 per cent.
The Composite CPI aims to reflect the impact of price changes on Macao’s households in general.
In 2021 and 2020, Macao’s Composite CPI rose 0.03 per cent and 0.81 per cent year on year respectively, according to DSEC data.
In 2019, the last year before the Covid-19 pandemic impacted Macao’s economy, the Composite CPI increased 2.75 per cent year-on-year, The Macau Post Daily reported.
