Macao's inflation hits 6.11% in 2012

MACAO - Macao's Composite Consumer Price Index for 2012 rose 6.11 percent year-on-year, the highest since 2008, according to the figures released by the city's Statistics and Census Service.

The rising inflation rate was attributable to higher charges for dearer prices of fresh food and produce, as well as higher charges for eating out, while subsidy on electricity charges and lowered telecom charges tapered off part of the increment of the Composite CPI, the DSEC said.

Last year saw significant increases in the price indices of alcoholic beverages and tobacco, up 30.30 percent, food and non-alcoholic beverages up 8.52 percent, household goods and furnishings up 6.86 percent, and housings and fuel rising by 6 percent.

The Composite Consumer Price index for the fourth quarter of 2012 rose 5.58 percent year-on-year, and the CPI for December 2012 stood at 5.83 percent.

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