Consumer prices forecast to post mild '13 increase
CNATAIPEI--Consumer prices are projected to grow modestly by 1.31 percent this year from last year's figure, the Directorate General of Budget, Accounting and Statistics (DGBAS) said Sunday.
February 4, 2013, 12:00 am TWN
The DGBAS forecast for the Consumer Price Index (CPI) increase for the whole of 2013 is up slightly from a previous estimate of 1.27 percent made last November, because international oil prices are likely to be a catalyst that pulls up domestic consumer prices.
Turning to the monthly CPI year-on-year growth for January, a DGBAS official noted that the last Lunar New Year holiday fell in late January 2012, which pushed the monthly CPI up by 2.37 percent due to increases in prices of various consumer products and services such as traditional Lunar New Year treats and cab fares.
The official pointed out that as the upcoming Lunar New Year holiday will not start until Feb. 9 this year, consumer prices in January did not rise too much. But he added that service fees and prices for festive treats are expected to grow further during the run-up to the holiday season.
The DGBAS is scheduled to release the CPI for January on Feb. 5.