Macao's CPI for first half of 2008 up 9%

Macao's average Composite CPI (consumer price index) went up 9 percent year-on-year in the first half of 2008, according to the latest figures released on Monday by the Statistics and Census Service (DSEC) of the Special Administrative Region (SAR).

The DSEC said driven by notable increase in prices of food and non-alcoholic beverages (18.16 percent), health (14.63 percent) and transport (12.94 percent), local CPI for June this year rose by 9.05 percent year-on-year to 124.7.

Despite the SAR government's payout of electricity subsidy to all local households, the price index of housing and fuels still increased by 7.96 percent, as a result of the substantial surge in the prices of LP Gas (26.47 percent), charges for maintenance and repair services of dwelling (27.18 percent) and rentals for housing (14.87 percent), according to the DSEC.

The Composite CPI reflects the impacts of price changes on the general population. The CPI-A relates to about 49 percent of local households, which have an average monthly expenditure of 3,000 patacas (385 U.S. dollars) to 9,999 patacas (1,281.9 dollars). The CPI-B relates to about 31 percent of households, which have an average monthly expenditure of 10,000 patacas (1,282 dollars) to MOP 19,999 (2,564 dollars).

According to the DSEC, the CPI-A and CPI-B for June this year were 126.55 and 124.16, increasing by 9.06 percent and 8.98 percent respectively year-on-year.