Macao’s composite consumer price index (CPI) for May 2024 has risen by just 0.77 percent year-on-year, according to data from the Statistics and Census Service (known by its Portuguese initials DSEC).
According to the Portuguese news agency Lusa, the figure is the lowest increase since February 2023, when Macao had just emerged from Covid-19 pandemic restrictions, and follows a 0.92 percent increase in annual terms.
The DSEC said a 3 percent drop in transport costs and a 0.9 reduction in recreational and leisure prices helped keep inflation in check.
At the same time, the city recorded a 1.2 percent increase in the prices of food and non-alcoholic drinks, and a 2.4 percent hike in restaurant meals.
[See more: Macao is Asia’s second most expensive city to build in, survey reveals]
Spending on natural gas and electricity rose by 4.9 percent and 1.5 percent, respectively, while the price of gasoline and diesel increased by 6.1 percent.
Spending on healthcare increased by 2.8 percent, while the cost of higher education grew by 8.5 percent and the price of apartments rose by 0.3 percent.
The CPI of mainland China, by comparison, rose 0.3 percent in May.
