Consumer prices rise 1.85% in January

Taipei (CNA) Taiwan's consumer prices rose 1.85 percent from a year earlier in January, mainly due to an increase in the cost of services for nursery and nursing care as well as entertainment and transportation expenses during the Lunar New Year holiday, government data showed Thursday.

Core CPI, which excludes fruit, vegetables and energy, rose 1.33 percent year on year in January, according to the Directorate General of Budget, Accounting and Statistics (DGBAS).

The latest CPI data indicates that consumer prices in Taiwan remain stable, the agency said.

Month on month the January CPI rose 0.59 percent in nominal terms and 0.11 percent after seasonal adjustments, the DGBAS said.

Year on year CPI growth in January was mainly caused by the Lunar New Year falling in January this year, while it was in February in 2019.

The prices of miscellaneous items in January increased 3.33 percent from a year earlier mainly due to an increase in the cost of cosmetic items as well as services for nursery and nursing care.

Meanwhile, education and entertainment expenses in January rose 2.99 percent from a year earlier.

Food prices rose 2.57 percent year on year, with the price of fruit and vegetables up 14.91 percent and 13.01 percent, respectively, the data showed.

However, the price of eggs fell 17.06 percent during the month compared with a year earlier, helping to offset the January rise in food prices, according to the DGBAS.

The cost of a basket of 17 government monitored household necessities, including rice, pork, bread, eggs, sugar, cooking oil, shampoo and toilet paper, was down 1.1 percent in January year on year, the steepest fall in 121 months.

It was also the fifth consecutive monthly drop, with the price of eggs falling the most in 118 months mainly due to a low comparison basis, according to the DGBAS.

Source: Focus Taiwan News Channel