Macau's consumer price inflation eased to an eight-month low of 2.94 percent year-on-year in December 2018 from 3.12 percent in the previous month. Inflation slowed for: food & non-alcoholic beverages (2.79 pct vs 2.91 pct in November); housing & utilities (2.37 pct vs 2.46 pct); transport (4.68 pct vs 5.13 pct); miscellaneous goods & services (2.58 pct vs 2.60 pct); clothing & footwear (6.00 pct vs 6.94 pct); household goods & furnishings (1.81 pct vs 3.08 pct), and health (4.53 pct vs 4.92 pct). Meanwhile, prices rose faster for both recreation & culture (2.42 pct vs 1.92 pct) and education (5.95 pct vs 5.84 pct). On the other and, communication prices fell further (-6.85 pct vs -6.86 pct). On a monthly basis, consumer prices rose 0.34 percent. Inflation Rate in Macau averaged 2.62 percent from 1999 until 2018, reaching an all time high of 9.49 percent in March of 2008 and a record low of -3.65 percent in July of 1999.
Inflation Rate in Macau is expected to be 3.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Macau to stand at 3.30 in 12 months time. In the long-term, the Macau Inflation Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.