CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

Macao's inflation rate still "acceptable": economic chief

06-23-2010 08:40 BJT

MACAO, June 22 (Xinhua) -- Although local CPI kept increasing in the past few months, Macao's inflation rate is still " acceptable", and the Special Administrative Region (SAR) government will closely follow the inflation development, according to a press statement released on Tuesday by the SAR government, quoting words from the SAR's economic chief.

Macao's Composite CPI (consumer price index) for May 2010 increased by 2.76 percent year-on-year to 104.06, which was attributable to the price increase of Food and non-alcoholic beverages and Transport, according to the latest figures from the SAR's Statistics and Census Service (DSEC).

Local people are understandably worried about the increasing inflation rate, but the SAR government has been monitoring the situation and once inflation affects local residents' life, the government will adopt relevant measures to help ease the negative impact, the press released quoted Tam Pak Yuen, the SAR's secretary for economy and finance, as saying.

Tam was currently paying his official visit to Portugal.

The SAR's average Composite CPI for the 12 months ended May 2010 rose by 0.83 percent from the preceding period, which, Tam said, is acceptable.

However, he also said that Macao's imported inflation is a common phenomenon, given the fact that the SAR's is an export- oriented economy.

Local inflation rate has remained stable at the end of last year, as that for December 2009 standing at as low as 0.75 percent, but the inflation ran at over 2.5 percent respectively in February, April and May this year, according to the DSEC.

The SAR's Chief Executive Chui Sai On said that once the inflation rate reaches three percent, the SAR government will adopt a series of specific measures to ensure the life quality of the local residents, especially the disadvantaged group.

Editor:Xiong Qu |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program