MACAO, Jan. 14 (Xinhua) -- Macao's average Tourist Price Index (TPI) for 2020 went down by 8.2 percent year on year to 122.88, the special administrative region's statistics service said on Thursday.
The decrease was largely attributable to a marked year-on-year drop in hotel room rates amid the COVID-19 pandemic, lower charges for restaurant services, as well as reduced prices of clothing and local food products. However, higher prices of jewelry and rising airfares partially offset the decrease, the Statistics and Census Service (DSEC) said.
Analyzed by section of goods and services, price indices of accommodation and clothing and footwear declined notably year on year by 28.49 percent and 13.75 percent respectively, whereas the indices of miscellaneous goods and transport and communications registered respective growth of 4.49 percent and 3.89 percent.
Macao's TPI for the fourth quarter of 2020 dropped by 15.26 percent year on year to 118.21, mainly due to lower hotel room rates and falling prices of clothing.