Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI (102.14) for July 2020 increased by 0.27% year-on-year, which is 0.67 percentage points lower than the year-on-year growth in June (+0.94%). The increment in July was attributable to dearer charges for eating out, outpatient services, hairdressing and beauty services, as well as higher prices of fresh pork and rising rentals for dwellings.

Among the various sections of goods and services, price indices of Health and Education went up by 5.49% and 5.17% respectively year-on-year, whereas the indices of Communication and Recreation & Culture fell markedly by 11.39% and 10.65%. The CPI-A (102.26) rose by 0.40% while the CPI-B (101.98) remained stable year-on-year.

The Composite CPI for July 2020 decreased by 0.44% month-to-month. Price indices of Recreation & Culture and Communication dropped by 8.41% and 4.22% attributable to lower charges for package tours and telecommunication services. On the other hand, rising wages for domestic helpers drove up the price index of Household Furnishings & Services by 1.06%. The CPI-A and CPI-B went down by 0.43% and 0.45% respectively month-to-month.

For the 12 months ended July 2020, the average Composite CPI rose by 2.19% from the previous period (August 2018 to July 2019), with notable growth in the price indices of Education (+5.22%), Food & Non-Alcoholic Beverages (+4.82%) and Health (+4.60%). The average CPI-A and CPI-B went up by 2.22% and 2.46% respectively over the previous period.

The average Composite CPI for the first seven months of 2020 rose by 1.81% year-on-year. The average CPI-A and CPI-B grew by 1.90% and 1.70% respectively.

The Composite CPI reflects the impact of price changes on the general households in Macao. The CPI-A relates to about 50% of the households, which have an average monthly expenditure of MOP12,000 to MOP35,999. The CPI-B relates to about 30% of the households, which have an average monthly expenditure of MOP36,000 to MOP62,999.