Tai­wan’s CPI in May de­clines by 0.73 per­cent

The China Post - - LOCAL -

The lo­cal con­sumer price in­dex (CPI) for May fell 0.73 per­cent from a year ear­lier, re­flect­ing lower fuel costs re­sult­ing from a plunge in in­ter­na­tional crude oil prices, gov­ern­ment statis­tics showed Fri­day.

The year- on- year decline in the May CPI came af­ter a 0.82 per­cent drop in April, mark­ing the fifth con­sec­u­tive month for lo­cal con­sumer prices to reg­is­ter a fall, the data in­di­cated.

The May CPI, how­ever, rose 0.24 per­cent com­pared to the pre­vi­ous month, and af­ter sea­sonal ad­just­ments, lo­cal con­sumer prices for last month also rose 0.06 per­cent month- on­month, the Di­rec­torate Gen­eral of Bud­get, Ac­count­ing and Statis­tics (DGBAS) said.

In the first five months of this year, the lo­cal CPI fell 0.66 per- cent from a year ear­lier, the DGBAS added.

In May, trans­porta­tion and com­mu­ni­ca­tions ex­penses fell 4.87 per­cent from a year ear­lier with fuel costs down 21.39 per­cent. It was the 6th con­sec­u­tive month for fuel costs to fall more than 20 per­cent year- on- year, drag­ging down the lo­cal CPI by 0.80 per­cent­age points in the month, the DGBAS said.

Food Prices See 0.87%

An­nual Rise

Food prices rose 0.87 per­cent from a year ear­lier in May with veg­etable prices and dining-out costs up 8.69 per­cent and 2.02 per­cent, re­spec­tively. How­ever, fruit prices fell 11.47 per­cent year-on-year, off­set­ting the im­pact re­sult­ing from higher food prices.

Due to an in­crease in veg­etable prices, the price of cab­bages con­sumers fa­vor when dining out spiked 35.21 per­cent year- onyear in May. Cab­bage prices for the first five months of this year gained 39.66 per­cent from a year ear­lier, the DGBAS said.

The gov­ern­ment agency said that the higher dining-out costs in May led con­sumers here to spend an ad­di­tional NT$ 125 ( US$ 4.05) for eat­ing out that month, com­pared with a year ear­lier.

House­hold Ne­ces­si­ties Reg­is­ters Decline in 30 Months

The DGBAs said that the price of a bas­ket of 17 gov­ern­ment mon­i­tored house­hold ne­ces­si­ties that in­cluded rice, pork, bread, eggs, sugar, cooking oil, sham­poo and toi­let pa­per, fell 0.22 per­cent year-on-year in May. It was the first time for the 17 house­hold ne­ces­si­ties as a whole to reg­is­ter a fall in 30 months, the DGBAS added.

Based on the year- on- year fall in the May CPI, house­holds with a monthly ex­pen­di­ture of NT$ 60,000 in Tai­wan spent NT$438 less in the month, com­pared with the same pe­riod of last year.

In May, the whole­sale price in­dex (WPI) in Tai­wan fell 9.45 per­cent from a year ear­lier, the steep­est drop in 68 months, due to a fall in oil, coal, chem­i­cal ma­te­ri­als and base metal prices. In the month, the core CPI, which ex­cludes veg­eta­bles, fruits and en­ergy gained 0.61 per­cent from a year ear­lier.

In the first five months of this year, the WPI fell 8.80 per­cent from a year ear­lier, while the core CPI rose 0.94 per­cent from a year ago.

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