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Macao’s inflation just 0.03 per cent last year

Higher costs of transport and services countered by cheaper prices for recreation, culture and communications, DSEC reports.

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Higher costs of transport and services countered by cheaper prices for recreation, culture and communications, DSEC reports.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 4:44 am

Macao’s average composite consumer price index rose by 0.03 per cent year-on-year in 2021, the Statistics and Census Bureau (DSEC) has announced.

The increase was driven by higher airfares, increasing costs of liquefied petroleum gas and gasoline, along with higher prices for eating out and domestic helpers’ rising wages. However, the bureau pointed out, the growth was partly offset by lower housing rents, falling pork prices and lower hotel room rates, as well as reduced charges for package tours and telecommunication services.

Last year’s price indices of Transport (+3.58 per cent) and Household Furnishings and Services (+3.52 per cent) showed notable growth, the DSEC said, while the indices of Recreation and Culture (-6.23 per cent) and Communications (-5.36 per cent) recorded marked decreases.

In 2020, Macao’s inflation rate stood at 0.81 per cent. Macao’s economy started to feel the effects of the  Covid-19 epidemic in the first quarter of 2020.

In pre-pandemic 2019, Macao’s inflation rate amounted to 2.75 per cent, The Macau Post Daily reported.

 

UPDATED: 22 Dec 2023, 4:44 am

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