Consumer Price Index (CPI) for November 2024

MACAU, December 19 - Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for November 2024 rose by 0.3% year-on-year but edged down by 0.01% month-on-month. For the 12 months ended November this year, the average Composite CPI grew by 0.84% from the previous period (December 2022 - November 2023).

In comparison with November last year, price indices of Miscellaneous Goods & Services (+2.77%) and Health (+1.37%) saw notable growth among the various sections of goods and services in November 2024. In addition, the price indices of Food & Non-Alcoholic Beverages (+0.6%) and Housing & Fuels (+0.39%) increased on account of dearer charges for eating out and takeaway, as well as higher rentals for dwellings. On the other hand, the price indices of Transport (-3.94%) and Household Furnishings & Services (-0.85%) dropped. The CPI-A and CPI-B rose by 0.28% and 0.3% year-on-year respectively.

When compared with October, the Composite CPI edged down by 0.01% in November. The price index of Recreation, Sport & Culture (-0.93%) saw significant month-on-month decline. The price index of Food & Non-Alcoholic Beverages (-0.21%) fell owing to lower prices of vegetables and fresh fish. By contrast, the price indices of Clothing & Footwear (+1.03%) and Alcoholic Beverages & Tobacco (+0.61%) increased month-on-month. The CPI-A decreased by 0.02% month-on-month while the CPI-B was similar to that in the previous month.

For the 12 months ended November 2024, the average Composite CPI grew by 0.84% from the previous period. Price indices of Education (+3.89%) and Recreation, Sport & Culture (+2.93%) increased markedly, while the price index of Transport (-3.17%) dropped. The average CPI-A and CPI-B rose by 0.79% and 0.91% respectively over the previous period.

The average Composite CPI for the first eleven months of 2024 grew by 0.79% year-on-year, and the average CPI-A and CPI-B went up by 0.74% and 0.84% respectively.

DSEC compiles three separate CPI series to reflect the impact of price changes for goods/services on households of different expenditure ranges. The CPI-A and CPI-B cover about 50% and 30% of the households, which have an average monthly expenditure of MOP11,000 - MOP35,999 and MOP36,000 - MOP71,999 respectively. Meanwhile, the Composite CPI covers all the abovementioned households; Housing & Fuels, Food & Non-Alcoholic Beverages and Transport accounted for relatively large proportions of household expenditure, with respective weights of 34.47, 29.47 and 8.33.