Macau Inflation Rate Slows in January

The annual inflation rate in Macau eased to 1.06% in March 2026 from a two-year high of 1.16% in the previous month. The main downward pressure came from transport (1.89% vs 2.36% in February), housing and fuels (0.34% vs 0.37%), and recreation, sport, and culture (3.02% vs 7.76%). In addition, prices declined for alcoholic beverages and tobacco (-0.26% vs 0.13%), while education remained unchanged (1.14%). Meanwhile, costs rose at a faster pace for food and non-alcoholic beverages (1.12% vs 0.92%), clothing and footwear (1.66% vs 1.02%), household furnishings and services (0.83% vs 0.45%), health (0.72% vs 0.46%), information and communication (0.23% vs 0.16%), and miscellaneous goods and services (3.12% vs 3.04%). On a monthly basis, consumer prices fell 0.18%, reversing a 0.42% increase in February, and marking the first monthly consumer deflation since May 2025.

The annual inflation rate in Macau climbed to 1.16% in February 2026 from a four-month low of 0.54% in the previous month. The latest figure marked the sharpest rise since February 2024, mainly driven by higher costs for transport (2.36% vs -0.93% in January), recreation, sport and culture (7.76% vs -2.06%), and miscellaneous goods and services (3.04% vs 2.32%). Prices also increased at a faster pace for food and non-alcoholic beverages (0.92% vs 0.85%), clothing and footwear (1.02% vs 0.65%), and household furnishings and services (0.45% vs 0.37%). On the other hand, inflation softened for alcoholic beverages and tobacco (0.13% vs 2.21%) and education (1.14% vs 1.52%). On a monthly basis, consumer prices went up by 0.42% in February, accelerating from a 0.02% gain in the preceding period.

The annual inflation rate in Macau eased to 0.54% in January 2026, the lowest in four months, down from 0.69% in December. The main downward pressure came from lower inflation in food and non-alcoholic beverages (0.85% vs 1.27% in December) and household furnishings and services (0.37% vs 0.52%). Costs also fell for transport (-0.93% vs 0.56%) and recreation, sport, and culture (-2.06% vs 1.89%). On the other hand, price growth picked up for alcoholic beverages and tobacco (2.21% vs 0.80%), housing and fuels (0.38% vs 0.17%), health (0.58% vs 0.65%), and miscellaneous goods and services (2.32% vs 1.84%). Costs also rebounded for clothing and footwear (0.65% vs -0.44%). On a monthly basis, consumer prices were nearly unchanged, rising only 0.02%, down from a 0.17% gain in December.