The Macau Tourist Price Index for the third quarter of 2022 dropped by 0.93 percent year-on-year to 115.50, mainly attributable to lower hotel room rates and reduced charges for restaurant services.
In turn, dearer prices of local food products offset part of the decrease. Among the various sections of goods and services, price index of Accommodation (-22.83 percent) recorded notable year-on-year decline, whereas the indices of Food, Alcoholic Beverages & Tobacco (+5.59 percent) and Clothing & Footwear (+5.27 percent) rose.
In comparison with the previous quarter, TPI for the third quarter of 2022 went up by 0.55 percent. Higher airfares and hotel room rates pushed up the price indices of Transport & Communications and Accommodation by 6.45 percent and 2.87 percent respectively,
Also, price index of Food, Alcoholic Beverages & Tobacco registered a growth of 1.56 percent. On the other hand, price index of Clothing & Footwear fell by 3.47 percent quarter-to-quarter on account of seasonal sale of summer clothing.
The average TPI for the last four quarters ended the third quarter of 2022 dropped by 0.24 percent from the previous period. Price index of Accommodation declined by 9.61 percent while the index of Entertainment & Cultural Activities increased by 18.65 percent.
