Macau: Inflation in Macau reached almost 8 pct in 12 months to June

22 August 2008

Macau, China, 22 Aug – The inflation rate in Macau totalled 7.99 percent in the 12 months ending in July as compared with the previous 12 months, the region’s Statistics and Census Bureau said Thursday in Macau.

The Bureau also said that the Consumer Price Index for July 2008 had seen a rise of 9.22 percent against the same month of 2007.

In July, price rose 0.84 percent as compared to June of last year, and in the first seven months of the year prices rose 9.03 percent against the same period of 2007.

The rise in prices was driven by increases in the categories of Food and non-alcoholic beverages, Health and Transport, which rose 19.97, 14.56 and 12.7 percent, respectively, in annual terms.

After a long period of deflation which was maintained until 2004, Macau has seen consecutive rises in consumer prices, with price rises totalling 5.57 percent in 2007, or 0.37 percentage points more than in 2006.

In order to fight inflation and lower the inflation rate by around 0.3 percentage points, the members of the Macau Legislative Assembly recently approved a government proposal to change the rates of consumer taxes on fuel and some alcoholic beverages. (macauhub)