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Official figures show Macao’s prices are going up slightly

October’s composite consumer price index saw a 1.10 percent year-on-year rise, with tuition fees experiencing the biggest price hike.

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October’s composite consumer price index saw a 1.10 percent year-on-year rise, with tuition fees experiencing the biggest price hike.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 21 Dec 2023, 11:05 pm

Macao’s composite consumer price index (CPI) stood at 105.02 in October, a year-on-year rise of 1.10 percent, according to the Statistics and Census Service (DSEC)’s latest figures. It was 0.16 percent higher than in September.

DSEC attributed the year-on-year increase to restaurant meals, tuition, clothing, and gasoline becoming more expensive. Those price hikes were partially offset by the cost of airfares and rent falling, it noted.

Since October last year, Macao’s education and household furnishings have become notably more expensive: their price indices were up 9.12 and 4.37 percent, respectively.

[See more: Uniqlo has given its staff in Macao a big pay bump]

On the whole, Macao appears to be keeping its cost of living in check. However, the Macau Federation of Civil Service Workers’ Associations has claimed that real inflation significantly exceeds the official figures.

Several sectors are expecting pay rises next year, in part due to inflation. A recent survey forecast salary growth of between 2.8 and 3.3 percent for Macao in 2024, with frontline workers expected to see the biggest gains.

Macao’s minimum monthly salary, meanwhile, will increase by 6.25 percent from next year.

 

UPDATED: 21 Dec 2023, 11:05 pm

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