Macao's Tourist Price Index Down by 0.38% in 2022

The Tourist Price Index (TPI) of Macao for the year 2022 dropped by 0.38 percent year on year to 116.65, the special administrative region's statistics service said on Friday.

The latest report from the Statistics and Census Service showed that the decrease was mainly attributable to lower hotel room rates. However, dearer prices of local food products partly offset the decrease.

The price index of accommodation showed a year-on-year fall of 15.52 percent. Price indices of entertainment and cultural activities and food, alcoholic beverages and tobacco increased by 23.30 percent and 5.11 percent respectively.

The TPI for the fourth quarter of 2022 went up by 0.17 percent year on year to 119.27, on account of dearer prices of local food products. Price indices of entertainment and cultural activities, food, alcoholic beverages and tobacco, and medicine and personal goods grew by 23.13 percent, 9.52 percent and 5.24 percent year on year respectively. The index of accommodation dropped by 19.50 percent.

In comparison with the third quarter of 2022, TPI for the fourth quarter rose by 3.27 percent. The price index of accommodation surged by 20.39 percent quarter-to-quarter due to higher hotel room rates during the Chinese National Day holiday in October and the Grand Prix motorsport road race in November.