Prices rose in Macau rose by 4.75 percent in January year-on-year due to the increase in house rental costs, the cost of clothing and meals bought outside the home, reported the region’s Statistics and Census Bureau.
The small year-on-year increase in prices observed in January was due to the fact that lunar New Year festivities in 2014 took place in January, which led to price increases, the Bureau said.
Compared to January last year, there were significant increases in the price indices of Housing & Fuel (+11.64 percent), Food and Non-alcoholic Beverages (+5.41 percent) and Health (+5.26 percent).
Compared to December, prices in January fell by 0.03 percent, due to falling price indices of the categories of Clothing and Footwear, Recreation and Culture and Transport, which fell 2.85 percent, 2.18 percent and 1.58 percent, respectively.
The inflation rate, measured by the average of the indices of the last 12 months against the preceding 12 months, stood at 5.91 percent, due to substantial increases in the categories of Housing and Fuel (+11.96 percent) and Food & Non-alcoholic beverages (+6.00 percent). (macauhub/MO)