SAR registers 0.3pct deflation in October

Macau registered a 0.3 per cent deflation in the 12 months ending in October, compared to the period between November 2019 and October last year.

In a statement, the Statistics and Census Services Bureau (DSEC) pointed out that the biggest decreases were registered in communications (-7.32 per cent) and in recreation and culture (-7.17 per cent).

In October, the International Monetary Fund (IMF), which revised downwards its economic growth forecasts for Macao in 2021, forecast a deflation rate of 0.3 per cent for this year and an inflation rate of 2 per cent for the following year.