Composite CPI dips 0.75 pct in October

2020-11-20 17:48     Comment:0

Macau's composite consumer price index (CPI) fell by 0.75 percent year-on-year last month, the Statistics and Census Bureau (DSEC) has announced. 

A DSEC statement yesterday attributed the CPI decline to lower charges for package tours, communication services and electricity, as well as lower prices of gasoline, clothing and footwear. 

It was the second consecutive month that Macau has registered negative growth in its CPI. In September, the composite CPI decreased by 0.40 percent year-on-year. 

According to the statement, the composite CPI aims to reflect the impact of price changes on households in Macau. 

In October, the price indices of Communication and Recreation & Culture decreased by 13.46 percent and 9.27 percent year-on-year respectively, while the indices of Health and Household Furnishings & Services rose by 2.81 percent and 2.24 percent. 

Month-to-month, the composite CPI dipped by 0.06 percent last month.

For the 12 months ended last month, the average composite CPI rose by 1.40 percent from the previous period (November 2018 to October 2019). 

The average composite CPI for this year's first 10 months increased by 1.15 percent year-on-year. 

Macau has been hard hit by the economic impact of the COVID-19 pandemic, its tourism, gaming, retail and media sectors in particular. 

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