Macau’s official tourist price index (TPI) rose 10.15 percent year-on-year in the first quarter, The Macau Post Daily reports today, citing officials stastistics.
The DSEC announcement attributed the steep increase to higher restaurant prices, hotel room rates and entertainment prices during the Lunar New Year holiday period (in late January) and higher prices of gold jewellery.
However, the index dropped 2.93 percent from the fourth quarter last year, namely due to lower prices of garments and footwear as well as lower hotel room rates.
The index for the last four quarters rose 14.24 percent from the previous four-quarter period, namely due to higher hotel room rates (+28.25 percent) and restaurant prices (+14.58 percent).
The index attempts to reflect the price changes of goods and services purchased by visitors.(macaunews)