Marked increase of house, food prices drives up Macao's CPI for 2007

Macao saw its average Composite CPI (consumer price index) reach 114.46 in 2007, with marked increase in price indices of housing and fuels, food and non-alcoholic beverages, as well as miscellaneous goods and services, according to official statistics released on Monday.

Information from Macao's Statistics and Census Service indicated that Macao's annual inflation rate for 2007 stood at 5.57 percent, and CPI-A and CPI-B for 2007 rose by 5.92 percent and 5.49 percent respectively over 2006.

Composite CPI reflects the impact of price changes on general population. CPI-A relates to 49 percent of households, which have an average monthly expenditure of 3,000 patacas (375 U.S. dollars) to 9,999 patacas (1,250 U.S. dollars), and CPI-B relates to about 31 percent of households, which have an average monthly expenditure of 10,000 patacas (1,250 U.S. dollars) to 19,999 patacas (2,500 U.S. dollars).

The increase of CPI was attributable to price surge in housing and fuels, food and non-alcoholic beverages, as well as miscellaneous goods and services, which rose by 9.55 percent, 8.19 percent, and 3.69 percent respectively, according to the statistics.