Con­sumer price in­dex down 0.61% year-on-year in March

The China Post - - LOCAL -

The con­sumer price in­dex ( CPI) for March fell 0.61 per­cent from a year ear­lier due to a fall in fuel costs re­sult­ing from de­clin­ing in­ter­na­tional crude oil prices, gov­ern­ment statis­tics showed Wed­nes­day.

On a month-on month ba­sis, lo­cal con­sumer prices fell 0.22 per­cent in nom­i­nal terms but rose 0.55 per­cent from Fe­bru­ary af­ter be­ing sea­son­ally ad­justed, the Di­rec­torate Gen­eral of Bud­get, Ac­count­ing and Statis­tics (DGBAS) said.

In the first three months

of the year, Tai­wan’s CPI fell 0.59 per­cent from a year ear­lier, the DGBAS said.

The neg­a­tive in­fla­tion in March largely re­sulted from a 26.49 per­cent fall in fuel costs, the fourth con­sec­u­tive month in which the price of fuel fell more than 20 per­cent year on-year, which dragged down the over­all in­dex by 1 per­cent­age point, ac­cord­ing to the DGBAS

Other fac­tors con­tribut­ing to the fall in the CPI in March from a year ear­lier were a 6.30 per­cent drop in trans­porta­tion and com­mu­ni­ca­tions ex­penses and lower fruit and elec­tron­ics de­vice prices, the DGBAS fig­ures showed.

In ad­di­tion to the lower fuel costs, cheaper fruits and a mark­down in prices of com­mu­ni­ca­tions, com­put­ers and con­sumer elec­tron­ics de­vices also con­trib­uted to the fall in the March CPI, the DGBAS said.

Last month, food prices rose 1.44 per­cent from a year ear­lier with prices of meat, eggs, veg­eta­bles and fish up 3.96 per­cent, 3.73 per­cent, 3.51 per­cent, and 3.02 per­cent, re­spec­tively.

Fruit prices f or March dropped 9.14 per­cent from a year ear­lier, off­set­ting the im­pact from higher food prices, the DGBAS said.

Living Costs Fell 0.42%

Year-on-year

In the month, living costs fell 0.42 per­cent from a year ear­lier largely as a re­sult of a 17.54 per­cent drop of nat­u­ral gas prices dur­ing the same pe­riod.

March was the third con­sec­u­tive month for Tai­wan’s CPI to reg­is­ter a year-on-year fall, and the CPI for the first quar­ter also fell 0.59 per­cent year-on-year.

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