News Snapshot:
The Macao government insisted today that the special administrative region is not being affected by deflation. The Statistics and Census Bureau (DSEC) said in a statement that last month’s year-on-year decrease in the consumer price index did not mean that Macao had entered a deflationary cycle. The bureau announced earlier this week that Macao’s composite consumer price index (CPI) dropped by 0.40 per cent year-on-year, the first decrease since December 2009. Observers say that Macao has been hit hard by the impact of the novel coronavirus pandemic on the local economy, its gaming, tourism, retail and media sectors in particular....
