Inflation drops to lowest rate since April 2011

Macau’s Composite Consumer Price Index, the city’s main gauge for inflation, increased by 5.04 percent year-on-year in January. This is the lowest growth rate since April 2011, when the Composite Consumer Price Index rose by 4.88 percent. It is unclear whether the slowdown was the result of lower inflationary pressures, or if the year-on-year comparison was impacted by the Lunar New Year calendar. This year, the Lunar New Year was in February, whereas in 2011, it was in January. Past data shows that prices usually go up during the festive period, fuelled by higher demand. In January, inflation was up 0.17 percent month-to-month. For the 12 months ended January, the average Composite Consumer Price Index rose by 5.96 percent from the preceding period.