Taiwan’s consumer price index grew 2.72 percent from a year earlier in October on the back of an increase in food prices, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Tuesday.
However, data compiled by the DGBAS showed that although October CPI growth moderated from a year-on-year increase of 2.76 percent in September, it remained well above the 2 percent alert set by the central bank.
On a month-on-month basis, the October CPI rose 0.26 percent, and after seasonal adjustments increased 0.12 percent, the data indicated.
Core CPI, which excludes fruit, vegetables and energy, rose 2.96 percent in October, compared with an increase of 2.80 percent in September, the DGBAS said.
In the first 10 months of this year, the local CPI rose 3.04 percent from a year earlier with core CPI up 2.57 percent, the DGBAS added.
In October, food prices rose 5.17 percent from a year earlier with the price of eggs and meat up 34.53 percent and 5.84 percent, respectively, on the back of more expensive animal feed.
In addition, the price of fishery products, frozen food, vegetables and dairy products also rose 6.51 percent, 6.32 percent, 3.74 percent and 3.74 percent, respectively, from a year earlier in the month, when dining out expenses also rose 6.40 percent, the DGBAS said.
Bucking the upturn, the price of fruit fell 3.77 percent to offset food price growth, the DGBAS said.
Housing expenses rose 2.42 percent from a year earlier in October with maintenance fees and rent rising 5.13 percent and 2.02 percent in the month, according to the DGBAS.
Last month, the cost of a basket of 17 government-monitored household necessities, including rice, pork, bread, eggs, sugar, cooking oil, instant noodles, shampoo and toilet paper, rose by 6.90 percent from a year earlier, after a 5.84 percent increase in September, the DGBAS said.
Meanwhile, the wholesale price index (WPI) surged by 11.09 percent from a year earlier in October, largely reflecting an increase in the price of electricity, fuel, electronic components and animal feed, the DGBAS said.
The import price index rose by 14.74 percent from a year earlier in October in Taiwan dollar terms and increased by 0.23 percent in U.S. dollar terms, while the export price index grew by 12.32 percent in U.S. dollar terms but fell 1.88 percent in Taiwan dollar terms, the data showed.
In the first 10 months of this year, Taiwan’s WPI rose 13.34 percent from a year earlier, the DGBAS said.
In October, Taiwan’s producer price index rose 8.68 percent from a year earlier and grew 11.31 percent in the 10-month period, the DGBAS added.
Source: Focus Taiwan News Channel