Year-over-year inflation in Macau rose to 1.10% in May due to rising wages for domestic workers, as well as prices for food, gasoline, liquefied petroleum gas and fruits.
Lower rents, telecommunications service prices and pork have weakened some of the rise in the consumer price index, the Bureau of Statistics Census (DSEC) said in a statement.
According to the DSEC, the consumer price index in May rose 0.08% month-on-month.
With restrictions and controls on covid-19, Macau, which accounted for approximately 40 million visitors in 2019, will close its borders with foreigners and force people arriving from potentially high-risk areas. Imposed quarantine.
The loss of millions of tourists has led to an unprecedented decline in the gaming industry. This is the basis of the region’s economy, which has recorded only 115 covid-19s since the start of the pandemic in March 2020.
Gambling is an industry that employs more than 80,000 people, or 17.23% of the employed population, accounting for about 80% of government revenues and 55.5% of Macau’s gross domestic product (GDP).