Macao's TPI up 11.13% in 2008

Macao's average Tourist Price Index (TPI) for 2008 rose by 11.13 percent over 2007, with market increases in the indices of Miscellaneous Goods, Restaurant Service and Clothing and footwear, according to the statistics released on Thursday by the city's Statistics and Census Service (DSEC).

The figures showed that the indices of Miscellaneous goods, Restaurant service and Clothing and footwear increased by 22.45 percent, 14.72 percent and 10.33 percent respectively last year.

TPI reflects the price changes of goods and services purchased by visitors, which is compiled based on the consumption pattern of visitors. The base year of TPI is from July 1999 to June 2000.

The fourth quarter of 2008 saw the TPI rise 6.48 percent year-on-year. The price indices of restaurant service; food, alcoholic drinks and tobacco, and clothing and footwear surged significantly by 13.53 percent, 11.66 percent and 11.08 percent respectively, which was attributable to rising charges of restaurant service and dearer prices of alcoholic beverages, tobacco and pastries, as well as the general increase of the prices of men's and ladies' clothing, the DSEC said.