Consumer Price Index (CPI) for January 2026

MACAU, March 2 - Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for January 2026 rose by 0.54% year-on-year and 0.02% month-on-month. For the 12 months ended January this year, the average Composite CPI grew by 0.33% from the previous period (February 2024 – January 2025).

In January, the price index of Food & Non-Alcoholic Beverages rose by 0.85%    year-on-year due to rising charges for eating out and takeaway, whereas the price index of Housing & Fuels grew by 0.38% on account of higher rentals for dwellings. Price indices of Miscellaneous Goods & Services such as personal care products, insurance, jewellery, clocks and watches (+2.32%) and Alcoholic Beverages & Tobacco (+2.21%) saw notable year-on-year increase, while the price indices of Recreation, Sport & Culture (-2.06%) and Transport (-0.93%) dropped. The CPI-A and CPI-B showed respective growth of 0.58% and 0.51% year-on-year.

When compared to December 2025, the Composite CPI increased by 0.02% in January. Price index of Food & Non-Alcoholic Beverages rose by 0.13% month-on-month, driven by higher charges for eating out and takeaway, as well as dearer prices of fruit, fresh fish and seafood; however, lower prices of vegetables partially moderated the rise. Price indices of Alcoholic Beverages & Tobacco (+0.78%) and Miscellaneous Goods & Services (+0.50%) recorded month-on-month growth, while higher electricity charges drove up the price index of Housing & Fuels (+0.24%). By contrast, the price indices of Recreation, Sport & Culture (-1.24%) and Transport (-1.11%) decreased. The CPI-A grew by 0.08% month-on-month while the CPI-B dropped by 0.02%.

For the 12 months ended January 2026, the average Composite CPI climbed by 0.33% from the previous period. Among the various sections of goods and services, the price indices of Miscellaneous Goods & Services (+1.82%), Recreation, Sport & Culture (+1.39%) and Education (+1.39%) saw relatively large growth, while the indices of Information & Communication (-2.57%) and Clothing & Footwear (-1.64%) dropped. The average CPI-A and CPI-B increased by 0.29% and 0.36% respectively over the previous period.

DSEC compiles three separate CPI series to reflect the impact of price changes for goods/services on households of different expenditure ranges. The CPI-A and CPI-B cover about 50% and 30% of the households, which have an average monthly expenditure of MOP11,000 - MOP35,999 and MOP36,000 - MOP71,999 respectively. Meanwhile, the Composite CPI covers all the abovementioned households; Housing & Fuels, Food &  Non-Alcoholic Beverages and Transport accounted for relatively large proportions of household expenditure, with respective weights of 34.47, 29.47 and 8.33.