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Macao is doing a great job of keeping consumer prices in check

While many economies in Asia and the rest of the world grapple with inflation, the cost of living in Macao has hardly moved.

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While many economies in Asia and the rest of the world grapple with inflation, the cost of living in Macao has hardly moved.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

Macao continues to buck the global inflation trend, with the composite consumer price index (CPI) barely shifting in May.

Month-to-month, the index rose just 0.14 percent. In comparison to May 2022, the CPI rose by only 0.9 percent, the latest figures from the Statistics and Census Service show.

The bureau says the negligible rises can be attributed to increases in restaurant prices, tuition fees, domestic helper wages, hotel room rates, and the cost of clothing, but these were offset by falls in rent and airfares. 

[See more: Macao continues to withstand inflationary pressure]

Fruit and fish cost more, but vegetables were cheaper. Alcoholic beverages also cost slightly less.

Compared to other economies, Macao is doing an excellent job of restraining consumer prices.

Global inflation is forecast to stand at 6.5 percent this year. In the UK and the US, it is running at 6.8 percent and 4.5 percent respectively. East Asian countries posting significant inflation include the Philippines (6.3 percent) and Indonesia (4.4 percent).

 

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