Macao’s inflation rate slowed to 1.13 per cent in August, mainly due to a drop in house rents and the price of telecommunications services.
Housing rents in Macao fell 8.3 per cent year-on-year from January to June, mainly due to “high unemployment”, according to a report by real estate firm JLL released in August.
The unemployment rate of local residents rose to 5.4 per cent between May and July, the highest recorded in nearly 15 years, and the number of foreign workers without resident status fell by almost 4,600 in July, when Macao faced the worst outbreak of Covid-19 since the pandemic began.
Salaries of domestic workers rose 19.8 per cent as did the price of fuel (21.7 per cent) and meals outside the home (1.7 per cent), the Statistics and Census Bureau announced.
In August, the overall consumer price index fell by 0.17 per cent compared to the previous month. In July, the year-on-year inflation rate in Macao was 1.38 per cent.
