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Govt says rising rents drive up inflation

The Statistics and Census Bureau (DSEC) said Monday that rising residential rents contributed to last month’s inflation rate of 5.31 percent year-on-year. However, the bureau did not say by how much the rental rates were up last month, merely saying that the composite consumer price index (CPI) of housing and fuels rose 8.91 percent. A […]

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UPDATED: 22 Dec 2023, 5:54 am

The Statistics and Census Bureau (DSEC) said Monday that rising residential rents contributed to last month’s inflation rate of 5.31 percent year-on-year.

However, the bureau did not say by how much the rental rates were up last month, merely saying that the composite consumer price index (CPI) of housing and fuels rose 8.91 percent.

A DSEC statement attributed the city’s accelerating inflation also to the rising cost of eating out and higher prices of fresh vegetable, fresh meat and fruit.

The index of health care costs was up 7.31 percent, while food and non-alcoholic beverage prices rose 6.47 percent year-on-year.

Month-to-month, the composite CPI increased 0.67 percent in June, namely due to higher prices of summer clothing and higher charges for domestic services.

For the 12 months including last month, the average composite CPI rose 5.52 percent from the preceding period. The composite CPI of housing and fuels rose 8.48 percent during the period.(macaunews)

UPDATED: 22 Dec 2023, 5:54 am

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