Dinning out 8 pct more costly in 3Q

2014/10/16

From：Macau Business Daily

The price index of restaurant services increased by 8 percent, while accommodation rose by 6.3 percent, inflating the Tourist Price Index for the third quarter of the year

Dining and accommodation were the two principal factors that brought up the overall Tourist Price Index by 4.9 percent in the third quarter of the year. The latest figures from the Statistics and Census Service show that the price of restaurant services increased by 8 percent, while that of accommodation increased 6.3 percent over the same period a year earlier.
The increase in price of clothing and footwear also contributed to the increase in the overall Tourist Price Index, rising 8.9 percent year-on-year.
Even when compared to the previous quarter, the overall Tourist Index Price increased slightly by 1.2 percent with the index of restaurant services and accommodation accounting for the biggest increases in price. The former increased by 3.5 percent, while the latter 3.3 percent quarter-on-quarter. This was primarily due to ‘higher hotel room rates and rising charges for restaurant services during the summer holidays,’ a statement from the Statistics and Census Service reads.
However, the price index for transport and communications dropped by 4.6 in the third quarter compared to the same period a year earlier, and dropped slightly by 1.4 percent quarter-on-quarter.
The price index of food and beverage dropped by 1 percent between June and the end of September vis-a-vis the previous three months, while that of clothing and footwear decreased by 0.7 percent. The reason for this, the Statistics and Census Service say, is the ‘reduced prices of local food products and seasonal sale of summer clothing.’
In addition, the overall average tourist price index for the last four quarters ended September 30 increased 6.2 percent over that of the previous period. Comparing both periods, accommodation accounted for the biggest increase at 13.6 percent, followed by clothing and footwear as well as restaurant services, both at 5.9 percent, and food and beverage at 5.7 percent.

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