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Taiwan's consumer prices remain stable
Publish Time: 2017/10/08

Taipei, Oct. 7 (CNA) Consumer prices remained stable in Taiwan as the local consumer price index (CPI) for September rose only 0.5 percent from a year earlier, according to the Directorate General of Budget, Accounting and Statistics (DGBAS).

The year-on-year increase in the CPI for September moderated from a rise of 0.96 percent seen in August. The slower growth was due to vegetable, fruit and egg prices falling due to a large supply, which offset the impact from an increase in prices for other items such as fishery, dairy and meat products as well as fuel, according to data compiled by the DGBAS.

The DGBAS said that a decline in travel expenses also helped stabilize local consumer prices in September. On a month-on-month basis, the September CPI stayed unchanged and after seasonal adjustments, the figure was 0.09 percent higher, the statistics showed.

In September, food prices in Taiwan fell 0.18 percent from a year eTaiwan's consumer prices remain stablearlier with egg prices falling 12.19 percent year-on-year due to food safety concerns after eggs in Taiwan were found to contain traces of the insecticide fipronil.

Prices of fruits and vegetables also fell 13.17 percent and 2.73 percent, respectively, year-on-year in September, while prices of fishery, dairy and meat products rose 3.84 percent, 2.90 percent and 2.30 percent, respectively.

After excluding fruit, vegetables and energy, the core CPI for September rose 0.82 percent from a year earlier after a 0.96 percent increase seen in August, the government agency said.

Mei Chia-yuan, deputy director of the DGBAS statistics department, said that the data showed that inflation remained in check.

Mei said that the decline in fruit and vegetable prices in September resulted from a relatively high comparison base over the same period of last year, when Taiwan was hit by two typhoons and supply was compromised.

The cost of a basket of 17 government-monitored household necessities, including rice, pork, bread, eggs, sugar, cooking oil, shampoo and toilet paper, rose 1.83 percent from a year earlier in September, down from the 2.19 percent year-on-year rise in June, according to the DGBAS.

In September, the wholesale price index (WPI) rose 1.62 percent from a year earlier, the largest increase in six months in the wake of rising international crude oil prices caused by output cuts by the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC producers, Mei said.

A rise of crude oil prices paved the way for higher raw material prices in the global market and in turn boosted Taiwan's WPI, Mei added.

Last month, the local import price index in Taiwan dollar terms rose 1.9 percent from a year earlier and gained 6.46 percent in U.S. dollar terms, while the export price index fell 0.26 percent in Taiwan dollar terms but rose 4.21 percent in U.S. dollar terms, the DGBAS said.

In the first nine months of this year, Taiwan's CPI grew 0.69 percent from a year earlier with the core CPI up 0.95 percent and the WPI up 0.77 percent, the DGBAS added.

Update Date:2017/10/08
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