Macau's fourth-quarter tourist price index rises 5.59%
In Macau, the overall tourist price index reportedly rose 5.59% year-on-year to 142.51 in the fourth quarter of last year, as the cost of staying at one of the city's many hotels and guesthouses rose 21%.
The tourist price index rose 7% in the fourth quarter, along with a 4% year-on-year increase in telecommunications and transportation costs, according to data released Monday by the region's statistics and Census Bureau. Shoes and clothing are down nearly 5 percent.
The Office for National Statistics (NSO) explained that lower airfares have a "appropriate effect" on the trend, but reported that the fourth quarter tourist price index, which does not include gaming-related services, rose further due to higher prices for local Chinese food.
In the last three months of the year, the growth rate of the tourist price index rose 9.95% quarter-on-quarter and averaged 131.87 points per year, up 0.77% from the overall two-year decline.
The price index for restaurant services rose 5.11 percent year-on-year and accommodation rose 4.97 percent, the data showed. However, the shoe and clothing sectors fell 7.16% overall and telecommunications and transportation fell 6.52%.