CONSUMER PRICE INDEX DECEMBER / 2012 No.12

CONSUMER PRICE INDEX

DECEMBER / 2012

No.12 The average Composite CPI for the whole year of 2012 was 117.04 and the inflation rate for 2012 stood at 6.11%. Rising inflation was caused by dearer prices of fresh food and produce, as well as higher charges for eating out, driving up the annual inflation rate by 2.7 percentage points.

Reduced charges for communication services and subsidized electricity charges tapered off part of the increment.

In 2012, significant increase was observed in the price index of Alcoholic Beverages &

Tobacco (+30.30%); Food & Non-Alcoholic Beverages (+8.52%); Household Goods & Furnishings (+6.86%); and Housing & Fuels (+6.76%); however, price index of Communication decreased by 4.18%. In addition, the average CPI-A (116.49) and CPI-B (117.61) for 2012 increased by 6.40%

and 6.31% year-on-year.

The Composite CPI (120.01) for December 2012 increased by 5.83% year-on-year. Price index of Alcoholic Beverages & Tobacco (+21.62%); Housing & Fuels (+8.93%); and Household Goods & Furnishings (+7.86%) registered notable increase, attributable to dearer prices of Liquefied Petroleum Gas and higher charges for domestic services. On the contrary, price index of Education and Communication decreased by 3.06% and 1.22% respectively. The CPI-A (119.64) and CPI-B (120.51) for December 2012 increased by 6.37% and 5.93% respectively year-on-year.

1 - CONSUMER PRICE INDEX

4/2008 - 3/2009 = 100

Unit Composite CPI CPI-A CPI-B

Index value for 2012 117.04 116.49 117.61

Index value for December 2012 120.01 119.64 120.51

Year-on-year change % 5.83 6.37 5.93

Annualized change % 6.11 6.40 6.31

Month-to-month change % 0.85 0.84 0.80 CHART 1 - YEAR-ON-YEAR CHANGE OF CPI

3.00 4.00 5.00 6.00 7.00 8.00

Dec. 2011 Feb. 2012 Apr. 2012 Jun.2012 Aug.2012 Oct. 2012 Dec. 2012

%

Composite CPI CPI-A CPI-B

CONSUMER PRICE INDEX DECEMBER / 2012 DSEC No.12 ___________________________________________________________________________________________________

The Composite CPI increased by 0.85% month-to-month. Higher charges for package tours and new arrival of Winter clothing drove up the price index of Recreation & Culture; and Clothing

& Footwear by 3.91% and 2.47%, while price index of Miscellaneous Goods & Services decreased by 0.15% on account of lower prices of gold jewellery. The CPI-A and the CPI-B increased by 0.84% and 0.80% respectively month-on-month.

The Composite CPI for the fourth quarter of 2012 rose by 5.58% year-on-year. Price index of Alcoholic Beverages & Tobacco; Household Goods & Furnishings; and Housing & Fuels posted noticeable increase, while index of Education and Communication decreased. The CPI-A and the CPI-B for the fourth quarter of 2012 increased by 6.04% and 5.72% 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% of the households, which have an average monthly expenditure of MOP6,000 to MOP18,999. The CPI-B relates to about 30% of the households, which have an average monthly expenditure of MOP19,000 to MOP34,999.

2 - CHANGES OF THE COMPOSITE CPI, CPI-A AND CPI-B BY SECTION

%

Year-on-year change Month-to-month change Annualized change

Contribution to the year-on- year change of the

Global Index Goods and services

Com- posite

CPI

CPI-A CPI-B Com- posite CPI

CPI-A CPI-B Com- posite CPI

CPI-A CPI-B Com- posite

CPI

CPI-A CPI-B

Global Index 5.83 6.37 5.93 0.85 0.84 0.80 6.11 6.40 6.31 100.00 100.00 100.00 Food & Non-Alcoholic Beverages 7.21 7.31 7.13 0.75 0.89 0.61 8.52 8.58 8.49 43.05 45.49 41.49

Food 6.07 6.24 5.76 1.58 1.78 1.27 8.03 8.10 7.91 13.20 16.27 11.32

Meals bought away from home 8.04 8.30 7.99 0.29 0.29 0.29 8.96 9.13 8.92 29.57 28.89 29.91 Alcoholic Beverages & Tobacco 21.62 22.21 21.14 0^# 0^# 0^# 30.30 30.97 29.91 4.65 5.71 4.24 Clothing & Footwear 2.46 3.05 2.60 2.47 2.47 2.34 3.25 3.48 3.45 3.16 2.58 3.67

Garments 3.32 4.06 3.58 2.96 2.97 2.73 3.46 3.78 3.83 3.22 2.61 3.86

Footwear -0.79 -0.73 -0.97 1.16 1.01 1.25 2.39 2.45 2.30 -0.22 -0.14 -0.30

Housing & Fuels 8.93 8.18 9.83 0.83 0.82 0.82 6.76 5.82 7.86 32.02 32.20 31.50 Electricity charges -15.81 -15.81 -15.81 - - - -7.95 -7.95 -7.95 -4.97 -5.80 -4.41 Liquefied Petroleum Gas 25.79 25.79 25.79 - - - 5.26 5.26 5.26 5.26 6.49 4.44 Household Goods & Furnishings 7.86 6.24 8.47 -0.09 -0.06 -0.10 6.86 5.78 7.17 4.07 2.10 4.92 Health 7.22 8.66 6.98 0.14 0.19 0.12 5.81 6.21 6.02 3.67 3.83 3.51 Transport 1.85 2.99 2.77 0.31 0.16 0.38 2.63 3.32 3.42 2.49 2.65 3.73 Communication -1.22 -1.17 -1.26 -0.04 -0.04 -0.05 -4.18 -4.39 -4.35 -0.51 -0.55 -0.49 Recreation & Culture 3.96 4.37 3.65 3.91 3.11 3.75 2.55 2.99 2.34 3.97 3.23 3.91

Outbound package tours 13.81 17.36 12.42 19.04 15.86 17.57 4.91 5.83 4.70 2.90 2.41 2.89 Education -3.06 -3.00 -3.53 - - - 0.24 1.10 0.04 -2.44 -1.74 -2.67 Miscellaneous Goods & Services 3.90 4.53 3.91 -0.15 -0.06 -0.14 5.81 5.85 5.78 5.88 4.49 6.19

Jewellery, clocks and watches 3.40 3.44 3.38 -0.54 -0.34 -0.55 8.36 8.39 8.31 0.92 0.20 0.95 - Absolute value equals zero

0^# Magnitude less than half of the unit employed

4/2008 - 3/2009 = 100

Year/

Month

Global Index

Food &

Non- Alcoholic Beverages

Alcoholic Beverages

& Tobacco

Clothing

&

Footwear

Housing

& Fuels

Household Goods &

Furnishings

Health Transport Communi- cation

Recreation

&

Culture

Education

Miscel- laneous

Goods &

Services

Weight 100.00 32.78 1.12 6.75 22.82 3.13 2.90 7.88 3.52 5.93 5.16 8.02 2011 110.30 116.16 115.59 118.30 101.58 107.60 113.04 111.97 82.45 109.95 100.93 120.63 2012 117.04 126.06 150.61 122.15 108.45 114.98 119.61 114.91 79.01 112.75 101.17 127.63 2011

12 113.40 120.44 126.98 125.60 103.88 109.43 115.78 112.70 79.31 111.79 102.15 124.27

2012

1 114.45 121.86 144.62 121.14 103.30 110.48 116.34 115.26 79.35 116.55 102.15 127.87 2 114.41 122.52 145.24 118.23 104.90 112.25 116.96 115.01 79.42 109.92 102.25 126.64 3 115.39 124.76 146.32 115.16 105.95 113.94 117.19 115.96 79.27 110.80 102.25 126.88 4 116.09 125.13 148.13 120.25 106.89 114.08 117.45 115.55 79.22 110.91 102.25 127.06 5 116.85 126.16 151.08 124.33 107.75 114.09 118.15 114.38 79.13 111.24 102.25 126.83 6 117.11 126.07 151.12 126.48 108.73 114.22 118.65 112.31 79.06 112.28 102.27 126.87 7 117.54 126.48 151.63 124.00 109.71 114.26 120.26 113.60 79.05 113.65 102.29 126.89 8 117.82 127.19 152.95 121.10 109.33 115.70 120.52 116.13 79.01 114.50 102.29 126.98 9 117.82 127.30 153.71 118.72 110.30 117.25 120.76 116.18 78.96 112.81 99.01 128.40 10 117.94 127.89 153.72 122.12 109.19 117.39 120.90 115.37 78.94 112.30 99.01 128.76 11 119.00 128.17 154.43 125.60 112.23 118.13 123.97 114.42 78.38 111.84 99.02 129.31 12 120.01 129.13 154.43 128.70 113.16 118.02 124.15 114.78 78.35 116.22 99.02 129.12

4 - TIME SERIES OF THE CPI-A

4/2008 - 3/2009 = 100

Year/

Month

Global Index

Food &

Non- Alcoholic Beverages

Alcoholic Beverages

& Tobacco

Clothing

&

Footwear

Housing

& Fuels

Household Goods &

Furnishings

Health Transport Communi- cation

Recreation

&

Culture

Education

Miscel- laneous

Goods &

Services Weight 100.00 36.94 1.44 4.82 27.22 2.19 2.71 5.78 4.22 4.71 4.00 5.96

2011 109.49 116.33 115.97 118.25 101.51 108.21 114.05 109.38 82.74 110.73 101.74 116.49 2012 116.49 126.31 151.88 122.36 107.42 114.46 121.13 113.01 79.10 114.05 102.86 123.30 2011

12 112.48 120.65 127.52 125.55 103.57 110.11 116.73 109.89 79.38 112.37 103.78 119.15

2012

1 113.48 122.18 145.72 121.05 102.31 110.97 117.23 112.31 79.41 117.26 103.78 124.61 2 113.66 122.74 146.33 118.24 104.00 112.26 117.91 112.72 79.46 111.26 103.96 122.06 3 114.82 125.09 147.34 115.23 105.03 113.51 118.19 113.83 79.34 112.11 103.96 122.23 4 115.47 125.34 149.30 120.20 105.97 113.66 118.48 113.81 79.29 112.30 103.96 122.35 5 116.32 126.46 152.36 124.35 106.83 113.68 119.35 112.54 79.22 112.46 103.96 122.46 6 116.56 126.26 152.38 126.56 107.79 113.86 119.91 110.24 79.16 113.67 103.99 122.59 7 117.05 126.72 152.97 124.05 108.75 113.88 121.88 111.54 79.16 114.40 104.03 122.68 8 117.34 127.54 154.32 121.32 108.19 115.07 122.21 114.37 79.12 115.43 104.03 122.79 9 117.46 127.53 155.10 119.13 109.14 116.21 122.41 114.60 79.08 114.47 100.65 124.30 10 117.47 128.11 155.10 122.59 107.92 116.41 122.61 114.02 79.07 114.18 100.65 124.41 11 118.64 128.32 155.84 126.26 111.12 117.06 126.59 112.99 78.48 113.75 100.67 124.62 12 119.64 129.47 155.84 129.38 112.04 116.99 126.83 113.18 78.45 117.28 100.67 124.54

CONSUMER PRICE INDEX DECEMBER / 2012 DSEC No.12 ___________________________________________________________________________________________________

5 - TIME SERIES OF THE CPI-B

4/2008 - 3/2009 = 100

Year/

Month

Global Index

Food &

Non- Alcoholic Beverages

Alcoholic Beverages

& Tobacco

Clothing

&

Footwear

Housing

& Fuels

Household Goods &

Furnishings

Health Transport Communi- cation

Recreation

&

Culture

Education

Miscel- laneous

Goods &

Services Weight 100.00 32.59 1.06 7.63 20.76 3.60 2.91 8.04 3.32 6.45 5.03 8.60

2011 110.63 116.20 115.44 117.90 101.59 107.01 113.43 112.49 81.95 110.28 100.43 120.41 2012 117.61 126.06 149.96 121.97 109.57 114.68 120.26 116.34 78.38 112.86 100.47 127.36 2011

12 113.77 120.48 126.83 124.95 104.07 108.69 116.45 113.09 78.70 112.06 101.60 124.02

2012

1 115.03 121.87 144.10 120.57 104.39 109.81 117.09 116.07 78.73 116.64 101.60 127.46 2 114.97 122.56 144.76 117.76 105.95 111.79 117.73 116.32 78.80 110.08 101.70 126.38 3 115.94 124.73 145.87 114.90 107.02 113.65 117.94 117.59 78.65 110.86 101.70 126.61 4 116.72 125.17 147.58 120.28 107.97 113.77 118.20 117.29 78.59 111.07 101.70 126.79 5 117.47 126.14 150.42 124.43 108.82 113.77 118.82 115.92 78.50 111.44 101.70 126.56 6 117.74 126.13 150.46 126.72 109.81 113.85 119.31 113.52 78.43 112.39 101.72 126.60 7 118.11 126.48 150.91 124.08 110.80 113.89 120.87 114.84 78.43 113.83 101.73 126.62 8 118.38 127.10 152.21 121.10 110.50 115.41 121.13 117.70 78.38 114.56 101.73 126.73 9 118.37 127.30 152.96 118.46 111.48 117.10 121.44 117.93 78.34 112.92 98.01 128.15 10 118.53 127.92 152.98 121.86 110.39 117.24 121.55 116.95 78.32 112.38 98.01 128.51 11 119.55 128.28 153.64 125.26 113.37 118.02 124.43 115.78 77.74 111.94 98.02 129.05 12 120.51 129.06 153.64 128.19 114.30 117.90 124.58 116.22 77.70 116.14 98.02 128.87

6 - CHANGES OF THE QUARTERLY COMPOSITE CPI

4/2008 - 3/2009 = 100

Year/

Quarter

Global Index

Food &

Non- Alcoholic Beverages

Alcoholic Beverages

&

Tobacco

Clothing

&

Footwear

Housing

& Fuels

Household Goods &

Furnishings

Health Transport Communi- cation

Recreation

&

Culture

Education

Miscel- laneous

Goods &

Services Weight 100.00 32.78 1.12 6.75 22.82 3.13 2.90 7.88 3.52 5.93 5.16 8.02 2011

3 111.04 117.57 114.68 117.65 101.51 108.24 113.77 113.89 81.05 111.09 100.94 122.33 4 112.69 119.88 118.95 121.87 103.46 109.19 115.62 113.01 79.27 110.64 102.15 124.01

2012

1 114.75 123.05 145.39 118.18 104.72 112.22 116.83 115.41 79.34 112.42 102.22 127.13 2 116.69 125.79 150.11 123.69 107.79 114.13 118.08 114.08 79.13 111.48 102.26 126.92 3 117.73 126.99 152.76 121.27 109.78 115.74 120.51 115.30 79.01 113.66 101.20 127.42 4 118.98 128.40 154.19 125.48 111.53 117.85 123.01 114.86 78.56 113.45 99.02 129.07

Rate of change (%) Quarter-to-

quarter 1.07 1.11 0.94 3.47 1.60 1.82 2.07 -0.38 -0.57 -0.18 -2.15 1.29 Year-on-

year 5.58 7.11 29.62 2.96 7.80 7.93 6.38 1.64 -0.90 2.55 -3.06 4.08

Average retail price (MOP)

2011 2012 Rate of change (%)

Item Unit

December September October November December Month-to- month

Year-on- year

Thai rice

12.00 13.01 12.99 12.99 13.00 0.10 8.30

Beef

95.40 110.41 115.04 122.73 123.44 0.58 29.39

Beef shin

90.63 106.18 107.04 114.94 115.36 0.36 27.28

Lean meat

63.11 61.87 62.10 62.34 63.05 1.14 -0.09

Pork chop

63.40 61.16 61.87 61.39 62.10 1.15 -2.05

Chicken

38.25 38.02 40.09 40.55 40.50 -0.15 5.86

Golden thread

78.56 79.66 83.96 85.65 87.52 2.19 11.41

Pomfret

137.52 189.26 181.82 171.90 171.90 - 25.00

Sole

172.87 199.01 188.30 192.12 187.01 -2.66 8.18

Grass carp kg

45.06 45.36 45.52 46.12 46.02 -0.20 2.14

Head of “Tai U”

69.59 73.17 77.34 75.66 75.97 0.42 9.17

Fresh-water perch

83.83 104.29 103.23 95.93 95.83 -0.10 14.33

Chinese cabbage

13.76 16.35 15.44 15.08 19.50 29.34 41.73

Choy sum

18.50 19.42 18.78 19.21 23.53 22.48 27.23

Chinese lettuce

12.19 15.29 13.59 12.31 16.95 37.71 39.09

Hairy gourd

17.73 15.07 13.78 15.37 17.22 12.09 -2.84

Tomato

11.93 15.55 15.71 14.55 15.31 5.29 28.38

Carrot

10.89 12.91 13.25 12.93 13.21 2.21 21.34

Banana

^{8.80 8.95} 8.94 8.95 8.87 -0.89 0.76

Orange

^{3.94 4.05} 4.12 4.18 3.94 -5.68 0.01

Apple each

^{4.07 4.76} 4.91 4.35 4.20 -3.38 3.30

Hen egg

^{1.19 1.20} 1.21 1.21 1.22 0.30 2.72

MOP : Macao Pataca

- Absolute value equals zero

- Absolute value equals zero

splayed may not correspond to the results calculated.

CONSUMER PRICE INDEX DECEMBER / 2012 DSEC No.12 ___________________________________________________________________________________________________

The following statistical tables are available for download from DSEC website

1G - Time Series of the Composite Consumer Price Index (Composite CPI) by Section 1A - Time Series of the Consumer Price Index A (CPI-A) by Section

1B - Time Series of the Consumer Price Index B (CPI-B) by Section 2G - Month-to-Month Change of the Composite CPI by Section 2A - Month-to-Month Change of the CPI-A by Section

2B - Month-to-Month Change of the CPI-B by Section 3G - Year-on-Year Change of the Composite CPI by Section 3A - Year-on-Year Change of the CPI-A by Section

3B - Year-on-Year Change of the CPI-B by Section 4G - Annualized Change of the Composite CPI by Section 4A - Annualized Change of the CPI-A by Section

4B - Annualized Change of the CPI-B by Section

5G - Changes of the Sections of Goods and Services of the Composite CPI 5A - Changes of the Sections of Goods and Services of the CPI-A

5B - Changes of the Sections of Goods and Services of the CPI-B

6G - Changes of the Subgroups of Goods and Services of the Composite CPI 6A - Changes of the Subgroups of Goods and Services of the CPI-A

6B - Changes of the Subgroups of Goods and Services of the CPI-B 7 - Average Retail Prices of Selected Food Items

8G - Changes of the Quarterly Composite CPI by Section 8A - Changes of the Quarterly CPI-A by Section

8B - Changes of the Quarterly CPI-B by Section