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January inflation stands at 6.8pct

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Macau recorded a 6.8 percent inflation rate in January, due to rising food prices and holiday spending.  
Information from the Statistics and Census Service (DSEC) indicated yesterday that the Composite CPI for January 2012 increased by 6.80 percent year-on-year, and increased by 0.93 percent month-to-month.
DSEC said the increment was attributable to rising charges for meals bought away from home and outbound package tours.
However, subsidy on electricity charges and lowered telecommunication charges tapered off part of the increment of the Composite CPI.  
For the 12 months ended January 2012, the average Composite CPI increased by 5.96 percent from the preceding period; the average CPI-A and CPI-B rose by 5.66 percent and 6.16 percent respectively.   
The Composite CPI for January 2012 increased by 0.93 percent month-to-month, of which the price index of Alcoholic Beverages & Tobacco and Recreation & Culture; increased by 13.89 percent and 4.26 percent respectively.
However, price index of Clothing & Footwear decreased by 3.55 percent month-to-month on account of seasonal sale of clothing. Meanwhile, the CPI-A and CPI-B increased by 0.89 percent and 1.11 percent respectively month-to-month.   
In comparison with January 2011, price index of Alcoholic Beverages & Tobacco (+26.50%); Food & Non-Alcoholic Beverages (+10.21%); Recreation & Culture (+10.17%) and Miscellaneous Goods & Services (+9.06%) registered marked increase on account of dearer prices of fresh fish, fresh meat, airfare, gasoline, gold jewellery and soaring tobacco tax, as well as higher charges for meals bought away from home, outbound package tours and hairdressing and grooming services during the Lunar New Year period. On the contrary, price index of Communication decreased by 6.41 percent year-on-year. The CPI-A (113.48) and CPI-B (115.03) for January 2012 increased by 6.56 percent and 7.14 percent respectively year-on-year.  
The 2008/2009-based Composite CPI reflects the impact of price changes on the general population. The CPI-A relates to about 50 percent of the households, which have an average monthly expenditure of MOP 6,000 to MOP 18,999. The CPI-B relates to about 30 percent of the households, which have an average monthly expenditure of MOP 19,000 to MOP 34,999.

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