MACAO, March 21 (Xinhua) -- Composite consumer prices index (CPI) growth in China's Macao Special Administrative Region dropped to 0.37 percent in February, touching the lowest level since January 2010, the statistics agency said on Tuesday.
According to Macao's Statistics and Census Service (DSEC), CPI in February eased from previous month's 1.76 percent since the Lunar New Year took place in February last year. The high base of comparison led to notable year-on-year decreases in package tour charges and vegetable prices, which are easily affected by seasonal factors. Lower rentals for dwellings also contributed to the slowdown in growth.
Analysis attribute CPI growth to dearer charges for eating out, higher rentals for parking spaces, rising prices of gasoline and motor cars, as well as increases in tuition fees and out-patient service charges.
Among the various sections of goods and services, price index of Education, Alcoholic Beverages & Tobacco and Transport increased by 7.36 percent, 7.17 percent and 6.97 percent respectively on an annual basis. On the other hand, price index of Recreation & Culture and Housing & Fuels registered notable decrease of 8.26 percent and 1.86 percent, DSEC said.
Macao's CPI in February decreased by 0.42 percent month-to-month. Reduced charges for package tours after the Lunar New Year and seasonal sales of winter clothing & footwear pushed down the price index of Recreation & Culture and Clothing & Footwear by 8.74 percent and 1.84 percent respectively.
The average Composite CPI for the first two months of 2017 increased by 1.06 percent on yearly basis.