Prices up 6 percent in July

2014/8/21

From：Macau Business Daily

Inflation in Macau posted 5.92 percent last month. Housing prices skyrocketed again, more than 11 percent. While food was 6 percent more expensive than a year ago.

Higher rents and the cost of eating out are driving up inflation in Macau, which stayed in July at 5.92 percent year-on-year, according to the Statistics and Census Service. On a month-on-month basis, from June to July, prices here increased 0.37 percent.
Over the course of one year, the largest price increases were registered in housing and fuel, which rose 11.45 percent, and on food and non-alcoholic beverages (6.1 percent). Recreation and culture also became about 4.84 percent more expensive in one year.
According to DSEC, prices continue to increase due to rising rentals, dearer prices of Liquefied Petroleum Gas and fresh meat, as well as the higher cost of eating out, package tours and recreational & sporting services.
On the other hand, people in Macau are likely to be paying less for clothing and footwear, the cost of which decreased 0.52 percent.
Month-on-month, there was a 0.37 percent increase in the inflation rate in July. Higher charges for package tours and rising rentals drove up the price index of recreation & culture 2.39 percent and housing & fuel by 0.74 percent. In one month, the costs related to health increased 0.58 percent.
Prices for food and non-alcoholic beverages increased 0.34 percent month-on-month. While the increased cost of eating out and dearer prices of fresh pork, live chickens and vegetables pushed prices up, while the lower prices of fruit, fresh fish and seafood balanced the increase.
The clothing and footwear price index decreased by 1.96 percent. According to DSEC, this is explained by the seasonal sale of summer clothing. Communication is also cheaper as the price index fell 0.06 percent.

Copyright@Macau Business Daily