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May 23, 2017

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Consumer Price Index up by 1.61% in May

TAIPEI--Taiwan's consumer price index (CPI) in May rose 1.61 percent annually, after a 14-month high of 1.65 percent recorded in April, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Thursday.

The May CPI, at 103.89, was 0.14 percent higher than in April, according to figures released by the DGBAS.

The year-by-year increase largely reflected price hikes in meat, fruit, fishery products, eggs, cooking oil, and grain and related products, while rising dining-out costs in the month also contributed to the higher consumer prices, the government agency said.

However, declines in communications service fees and prices for computers, communications devices and consumer electronics offset the impact from higher year-on-year food prices, the DGBAS said.

In terms of the month-on-month CPI increase, the DGBAS cited higher vegetable prices due to bad weather as one of the major reasons, while higher dining-out costs also gave another boost to the price hikes.

The DGBAS said, however, that fruit, meat and egg prices fell from a month earlier, while communications service fees and 3C product prices also dropped from a month earlier, which eased the monthly price hike impact to some extent.

Promotion campaigns staged by fashion product and cosmetics vendors for the Mother's Day holiday also assuaged the impact of the month-on-month consumer price hikes, the DGBAS said.

The May core CPI, which excludes vegetables, fruit and fuel, rose 1.46 percent from a year earlier, while the CPI excluding vegetables and fruit, gained 1.55 percent year-on year, the government statistics show.

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