Consumer price index (CPI) for February 2025

MACAU, March 21 - Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for February 2025 decreased by 0.16% year-on-year owing to the high comparison base resulting from increases in prices of some goods and services amid the Chinese New Year that fell in February last year. Besides, the Composite CPI for February this year fell by 0.19% month-on-month. For the 12 months ended February 2025, the average Composite CPI grew by 0.57% from the previous period (March 2023 - February 2024).

In comparison with February last year, the price indices of Recreation, Sport & Culture (-5.03%), Transport (-4%), Information & Communication (-2.83%) and Clothing & Footwear (-1.98%) saw marked year-on-year decline in February 2025 among the various sections of goods and services. On the other hand, the price indices of Miscellaneous Goods & Services such as personal care products, insurance, jewellery, clocks and watches (+2.05%), Alcoholic Beverages & Tobacco (+2.03%) and Education (+1.17%) increased. In addition, price index of Food & Non-Alcoholic Beverages (+0.69%) recorded year-on-year growth, on account of higher charges for eating out and takeaway, as well as dearer prices of bread and biscuits. In addition, rising rentals for dwellings drove up the price index of Housing & Fuels (+0.31%). The CPI-A and CPI-B dropped by 0.15% and 0.2% year-on-year respectively.

When compared to January 2025, the Composite CPI dipped by 0.19% in February. Price index of Recreation, Sport & Cutlure (-3.6%) decreased owing to lower package tour charges and hotel room rates after the Chinese New Year holiday. In addition, the price indices of Transport (-1.64%) and Clothing & Footwear (-0.93%) registered a month-on-month decline. Meanwhile, the price indices of Alcoholic Beverages & Tobacco (+1.1%) and Education (+0.46%) recorded growth. With respect to the sections of goods and services that are closely linked to livelihoods, the price index of Food & Non-Alcoholic Beverages (+0.15%) increased due to rising charges for eating out and takeaway. The CPI-A and CPI-B dropped by 0.1% and 0.26% month-on-month respectively.

For the 12 months ended February 2025, the average Composite CPI grew by 0.57% from the previous period. Among the various sections of goods and services, the price indices of Education (+2.84%), Miscellaneous Goods & Services (+2.54%) and Health (+1.97%) saw notable increases, while the index of Transport (-3.19%) fell. The average CPI-A and CPI-B went up by 0.54% and 0.59% respectively over the previous period.

The average Composite CPI for the first two months of 2025 climbed by 0.2% year-on-year, and the average CPI-A and CPI-B rose by 0.16% and 0.21% 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.