According to the Statistics and Census Service, May’s Consumer Price Index (CPI) rose 1.43% (year-on-year) and 0.17% (month-on-month). The rise in fuel prices pushed the transport index up 4.79% year-on-year. This worsens commuting costs and the operational expenses of logistics and transportation, creating a multiplier effect on inflation that increases the pressure on residents’ lives.
Beyond inflation, the cost of housing weighs heavily on grassroots families. There are 1,969 vulnerable households on the waiting list for social housing, bearing high rents in the private market alongside the rising cost of living.
Given this situation, the MSAR Government should remain “people-oriented,” anticipate inflation and adopt timely support measures to ease the pressure on grassroots families and increase their sense of happiness and security.
Ensuring the wellbeing of the population in development is vital under the national “15th Five-Year Plan” and Macau’s 3rd Five-Year Plan. Despite the recovery of tourism and gaming, inflation continues to punish grassroots families, so the Government should adopt well-targeted relief policies.
I therefore present three suggestions: Extend the fuel subsidy: The rise in oil prices affects not only residents’ daily expenses but also the operating costs of SMEs. Since the subsidy plans for diesel, gas and gasoline ended in July, a second phase is suggested to ease the pressure on the population and businesses.
Maintain consumption incentives: A review of the “Grand Prize for Consumption in Community Areas” is suggested, along with improving the method of using electronic coupons. Launching a new plan in the second half of the year will help ease daily expenses and stimulate SMEs, benefiting both the population and the community economy.
Reduce the wait for social housing: With around 2,000 families currently on the waiting list for social housing allocation, the burden of private market rents, combined with inflationary pressure, continues to represent a suffocating weight. The Government is urged to optimize allocation, ensuring sufficient supply, in order to shorten waiting times, ensuring family stability and social harmony.
